banner_ad

ITR FILING- 4 heads of income

Others 317 views 2 replies
A person having business in the form of commission earning about 5 lakhs a year. He has also income from salary, Income from other sources, Income from capital gain.

He doesn't maintain books of accounts since he is not liable to do so.

As commission income is not covered in presumptive basis and given the fact that the assessee don't maintain books of accounts, how can he report his business income in ITR 3?
Replies (2)
As per section 44 AA of the income tax Act , if your income as individual exceeds 2.50 lacs rupees or sales turnover exceeds 25 lacs from the business, it is mandatory to maintain books of accounts. please refer section 44 AA of the income tax Act and confirm.
File ITR3 Under section 44AA.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details