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Income Tax Return

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808 Points Posted on 10 December 2020
In case an individual has turnover of 2.5 crore but his receipts does not exceed 5% of total receipts and payment does not exceed 5 % of total payment, here we need to submit only ITR-3.
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On 10 December 2020 at 16:57 Report
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Profession Business
28207 Points Posted on 10 December 2020
ELABORATE
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On 10 December 2020 at 17:36
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808 Points Posted on 10 December 2020
I just want to ask earlier we need to submit ITR3 and audit report in case turnover exceeding prescribed limit.
but now as per new proviso of 5% receipts and payments, if that condition is satisfied, then we need to submit only itr3
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On 10 December 2020 at 17:51
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30 Points Posted on 11 December 2020
If a person has a turnover of 2.5 crores, then we need to present ITR3 immediately in case you exceed the prescribed limit. But if the condition is met as per the new provision, then you only need to fill ITR3. I hope that I have answered your question systematically.
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On 11 December 2020 at 13:30
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808 Points Posted on 11 December 2020
Yes, I want to confirm that we need to submit only ITR 3 and dont need to submit 3CB-CD
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On 11 December 2020 at 13:34
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30 Points Posted on 11 December 2020

Well, thank you got the answer to your question. If you are thinking of filing ITR3, and you are looking for an expert, then you can contact LegalPillers ITR3. This is my opinion.

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On 11 December 2020 at 13:50


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