ITR FOR AY 2019-20

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Sir,
I am 58 yrs old govt retiree. My income sources are salary/pension, interest from bank FDs, STCG from equity/debt mutual funds (Rs 10K approx for FY 18-19, first time).

Total income for FY 18-19 about Rs 8 lakhs. I have done intraday trading in equity (speculative business) first time in FY 18-19 with small turnover of Rs 2160/ and in loss in trading.

My query is:-

(a) Which ITR to file for AY 2019-20 ?

(b) Can I file ITR under presumptive income for my trading under Sec 44AD to avoid expense on tax audit ?

Request clarify.
Replies (6)

(a) ITR 3

(b) Yes.

Sir, If yes for (b), then which ITR to file ?

ITR3 Under 'No Accounts Maintained' option ...

a)  you file ITR-3 for AY 2019-20

b)  You can't file under sec 44AD & You  are not liable to Tax audit itself

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Sir, In ITR 3 can I file under 'no accounts maintained' and declare 6% of turnover (Rs 2160/ ) as profit & pay taxes accordingly ?

Yes you can.


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