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Itr 3 issue

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Rama Vani

103 Points Posted on 22 November 2021

gud day everyone,

iam facing issue in filing itr3. I NEED TO FILE LIFE INSURANCE INCME. iam providing the details of GROSS RECEIPTS , gross profit and expenses, it shows the net profit from the business as an aggregate of GROSS RECEIPTS + NET PROFIT. SO the business income is overstated due to this tech issue.

How do i proceed with and file in ITR3. PLS refer the attached file.

Kindly provide with possible solutiontnx.

Attached File : 3321887 20211122154342 error in itr3 form.pdf downloaded: 66 times

Replies (5)

Quick Summary

A user is experiencing an issue when filing their ITR 3, specifically when trying to report income from life insurance commission. The system appears to be incorrectly aggregating gross receipts and net profit, leading to an overstated business income. They are seeking guidance on how to accurately input the figures and resolve this technical problem.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212455 Points Posted on 23 November 2021

Is it commission income or maturity proceeds?

Rama Vani

103 Points Posted on 30 November 2021

its purely LIC COMMISSION SIR

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212455 Points Posted on 30 November 2021

You do not add gross profit.

Just fill gross receipts & expenses correctly.

Rama Vani

103 Points Posted on 30 November 2021

thats what iam doing sir. if i , fill the gross receipts, expenses,it shows the net profit from the business as an aggregate of GROSS RECEIPTS + NET PROFIT. SO the business income is overstated