Income tax return FY 2022-23 ITR3

Hi,

Assess have income from business registered in GST. annual turnover approximately 70Lacs NP Approximately 6 Lacs also have agriculture income around 1 Lacs. digital books of accounts Maintained (busy) If he don't want to file ITR under presumptive income. can he go for Normal ITR3 upload balance sheet and PL account.

Thank you
Replies (5)
Quick Summary
This discussion clarifies whether an individual with business income (registered under GST, turnover ~70Lacs, NP ~6Lacs) and agriculture income (~1Lac) can file a normal ITR3 instead of presumptive income. The consensus is yes, provided books of accounts are maintained and section 44AA is complied with, even if the profit margin is less than the presumptive scheme thresholds.

Yes, He can go with ITR 3.
Thank you very much Sir,

Just for information purpose Can we file ITR3 if profit is 3% OR4%(Less then 6% or 8%) with the help of books.No opeting presumptive income
Originally posted by : Nisha Kathuria
Thank you very much Sir,Just for information purpose Can we file ITR3 if profit is 3% OR4%(Less then 6% or 8%) with the help of books.No opeting presumptive income

 

Yes, If file u/s 44AA.

Thank you Sir,
Agree with Raja P M sir.

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