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ITR3 Filling Professional

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ashtosh

tax

23 Points Posted on 23 July 2023

Hi Sir,

I have a Gross income of 2,25,800 in a financial year, I am trying to file ITR3, here are some of my doubts pls clarify.
I am a engineering consultant professional. My TDS is in 16A form - nature of payment 194C

Questions
1.Can i Put Zero in Balance sheet and file it since i am a professional ?
2. In ITR 3 under trading account part A in "gross receipt from professional" can I put my total income ? or else where should i put my income?

# i know i am under exemption but still i need to file please answer ..Thank you

Replies (3)

Quick Summary

This discussion addresses common queries regarding ITR3 filing for professionals, specifically an engineering consultant with a gross income of £2,25,800 and TDS under section 194C. The user sought clarification on whether a zero balance sheet could be filed and where to report gross professional receipts. Expert advice confirms that a zero balance sheet is permissible (except for cash in hand) and that total professional receipts should be entered under the 'gross receipt from professional' section in the ITR3 trading account.