Kiosk ITR filing problem


This query is : Resolved 

Quick Summary
This discussion addresses the complexities of filing Income Tax Returns (ITR) for a kiosk that has processed withdrawals of ₹3 crore. The advice suggests using ITR 3 and treating any commission received as turnover. It's crucial to maintain detailed records of payments made against receipts to accurately report transactions and any associated tax liabilities.

(Querist)
29 July 2023 How to file ITR of KIOSK having withdrawal of 3 crore.
Which head, and what percentage of profit can we show minimum..

29 July 2023 Elaborate the nature of transactions.
Any commission received?

Satish Mehra (Querist)
30 July 2023 Tax payments for 100-200 extra money, and also commission on transactions

30 July 2023 You need to file ITR 3. Take commission as your turnover. Keep records of the payments made against its receipts.

11 September 2024 Good Luck.


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