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ITR 3 no book case.

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Krishna Shinde

131 Points Posted on 12 August 2020

If a taxpayer having trading business turnover approx 21.00 lac and profit 4.00 lakh and also agriculture income around 85000. can we file his itr in itr 3 with no book case is their section 44aa is applicable.kindly give your precious suggestions.

Replies (2)

Quick Summary

This discussion explores whether a taxpayer with a trading business turnover of approximately ₹21 lakh, a profit of ₹4 lakh, and an agriculture income of around ₹85,000 can file their Income Tax Return (ITR) using ITR 3 under the 'no book case' option. It also queries the applicability of Section 44AA in this scenario. The general conditions for filing ITR 3 are mentioned, including income from other sources and professions, with a specific exclusion for partners of a partnership firm.

sabyasachi mukherjee

Profession

28265 Points Posted on 12 August 2020

Itr3 is applicable in the following cases:
1
income from other sources.
2. income from profession.
But if he is a partner of a partnership firm he cannot file itr3.