Filling ITR3 due to income from business, rental and dividended but total income less than 20 Lakh.
In this case:
Is it mandatory to maintain book of account?
OR simply fill-up [NO ACCOUNT CASE] (53(i)a, b, c, d) ?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 26 July 2018
If eligible business....... File ITR 4 under sec. 44AD....... No books
prasad Nilugal
(3924 Points)
Replied 26 July 2018
As per section 44AA of the income tax act 1961, for F.Y 2017_18 your profit exceed s 1,20,000/- or turnover exceed s 10 Lacs you have to maintain books of accounts .
Sanjeev
(self)
(23 Points)
Replied 26 July 2018
But income from Rental (shop) and dividend from mf, then can file ITR4?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 27 July 2018
For rental income of shop (not carring on business of your own) alongwith dividend Income from MF...... just file ITR1
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