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.
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ITR FOR AY 2019-20
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
We AKT Associates provides various tax-related services. If you want any Tax related services please visit my site https://aktassociates.com/business-compliance/yearly-compliance/it-return-filing/
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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