Income tax

ITR Filing 1676 views 15 replies

Dear Sir's,

I wanted to opt for filing returns under presumptive scheme but i have capital gains also because of which ITR-3 is applicable to me nw the difficulty is when i studied the form ITR-3 i noticed that under the schedule income from bussiness and profession the coloum of Sec 44AD and Sec 44ADA both are freezed how should i opt for the said scheme please advice

Replies (15)

Have you opted for 'no need to maintain accounts' in 'general information' tab?

yes i have ...and also filled the respected profit and loss and balance sheet under no account case 

When you have filled the minimum details  as required U/s. 44AD, then let other fields be locked!!

You have to fill only details as in sr. no.  6 of BS

What is the problem now?

I have the Query relating to above, If business man having turnover between 1 cr to 2 cr and claimed the income under section 44AD but maintained the record under section 44 AA then am I need to get the books audited as turnover more than 1 cr and maintained the records, in many cases while we opting 44AD assessee declare thaat books accounts not maintained but actual does, and if actual profit say 20% and and we claimed 8% in such cases ,assessee whether need to get the books audited?

nothing sir it just got resolved once i filled the form completely thanks sir for your valuable time...just last query is i also have gst no but as there is no option to mention in ITR-3 so im not liable to mention??

Once sec. 44AD opted, there is no need to audit books of accounts. Even though you may maintain books for your records, but department cannot ask to produce them.

It is always advisable to declare the actual profit, to avoid any future conflict.

I also have gst no but as there is no option to mention in ITR-3 so im not liable to mention??
No need, when not asked.

May be in next version, that field would be added.

deduction of mess band 250 in airforce from total income .where it is to be shown while filing ITR

Getting an error in Java Utility Please select an option at point C not able to figure the issue anyone else have faced the same issue??

Same error

My suggestion is to check :

Schedule AL (Asset and Liability at the end of the year)

Ponit C (Do you have any Interest held in the assets of a firm or association of persons (AOP) as a partner or member thereof ?)

also check Point A if getting further error.

Excel utilities are getting full of error all over. Large number of forms, large number of clauses and Ifs and Buts and politicians changing tax bands and rules and GST and audit amount ceilings in budget speeches, causes severe errors and loopholes in excel.

First thing the Indian CBDT should do is to reduce the number of tax return forms. United States has only 3 tax return forms for residents. There are 2 forms for Non Residents I believe. USA has separate tax returns for each state. Married couples can file joint returns.

 

try java utilities .. as they are much more better 

Yes, facing same problem but no solution i have check entire ITR but there is nothing i missed 

please members give solution for this.


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