Dear All,
Can you pls guide how to file the income earned by way of commission through marketing of paddy/grains (buying paddy from Farmers and selling to Miller's without any further processing). Assessee is an individual with only paddy commission income.
pls. note, GST is exempt on above income, hence assessee had not registered under GST.
Thank you in advance.
Regards
Rashmi Ranjan
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How to file ITR for only commission income earned by marketing Agri produce
Replies (7)
Yes... You can file ITR 3 without GSTIN.
agree with Mr. raja reply.....
whether audit is required?? Total turnover 2.5 crores but commission is only 1% of turnover.
yes.... audit is mandatory since the turn over is in excess of 2 crores
Is Asseessee having any bills for the transfer goods or only received commission? If he is dealing it's purchase & sales mode then Turn over calculated as per transactions... If he is received only commission then the turn over is differed...
Assessee is not having any bills but all collections from Miller and payments to Farmers are being made through bank transfer.. Total collections from Miller's during last year was 2.5 crores and out of that total commission earned was 2 lacs..
https://www.incometaxindia.gov.in/Communications/Circular/910110000000000902.htm
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