Can one can file ITR 3 if he is maintaining books under section 44AA but his turnover below 1crore
and want to disclose profit below 8%/6%
Menu
Filing of ITR 3
Replies (5)
Quick Summary
YES, PROVIDED SEC. 44AD(4) NOT APPLICABLE IN HIS CASE.
That means if any assessee has not filed any return under section 44AD in previous year can show profit below 8% or 6% without audit
YES....
The Current ITR3 Form is to be used by an individual or a Hindu Undivided Family who have income from proprietary business or are carrying on profession. The persons having income from the following sources are eligible to file ITR 3 : Carrying on a business or profession. If you are an Individual Director in a company.
Yes you can file ITR 3 without audit. - In case of intraday, turnover is sum of profit and losses earned. You can pay tax on 6% of turnover and file ITR-3 without audit. Since your salary is above 250000 you will be required to get your accounts audited as your business income would be below 8%.
REFER .... INCOME TAX AUDIT REGARDING [Resolved] | Income Tax (caclubindia.com)
Recent Topics :
- Query on FCTRS
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
Related Topics :
CAclubindia
