IT return of commission agent of agriculture products (potato and onion)

How do we file IT return of agriculture commission agent who trade buying and selling of potato and onion on commission basis and all transactions are done through bank . And now his total deposit in bank i.e sales on commission basis are more than 1.5crore. now whether we have to do audit u/s 44AB  or presemptive income i e 2% is commission on 1.5 crore 

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Quick Summary
This discussion clarifies how to file IT returns for an agriculture commission agent dealing in potatoes and onions, where all transactions are bank-based and exceed ₹1.5 crore. It confirms that if the agent acts purely as a commission intermediary, their turnover is the commission earned (e.g., 2% of gross sales), not the gross sales value itself. Consequently, a tax audit under Section 44AB is generally not required, and the agent can file using ITR 3 under normal assessment, using business code 09005.

Yes Sir it would be audit And You can try this app for more financial queries I got my query resolved from them at only Rs 500(App Name-GoFinx Financial Services)On playstore.

Depends upon the authority over the goods sold or its billing pattern. If you are pure commission agent, your turnover will be just the commission received, As such file ITR 3 without tax audit,

Sir how should we file IT return , procedures and business code

Before replying further, needs to verify your business module.

As said earlier, if you are just commission agent, and goods are directly delivered to client by the principal. you can file ITR 3 with normal assessment (without audit report), as sec. 44AD will not apply in your case. For commission agents.. code 09005   is used.

Thank you sir 🙏🙏, sir whether we to declare gross receipts ie 1.5crore as turnover/gross receipts and than deduct expenses from Gross receipts or directly we have to take 2%as commission on Gross receipts and than deduct expenses ? 

As said earlier, your turnover will be just the commission received from your principal, i.e. 2% of total collections made for your principal.

Thank you sir thanks allot 

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