Menu
Maintenance of books of accounts
If any individual businessman gets a turnover of ₹ 7,00,000 and earns a net profit of ₹ 3,00,000 and opts for 'NO ACCOUNT CASE' in ITR -3, will there be any defection in ITR ?
Replies (16)
Yes......
Income above BEL
Income above BEL
But, the turnover is below BEL...
Why to fill ITR3 any reason???
Due to PGBP
You can not select No Account Case
How no Account case comes when you're turnover is 700000 and profit is 300000
make me clear it
make me clear it
As per.the section 44AA of the.Income Tax act 1961 ,If your profit exceeds 2,50,000/- or turnover exceeds 25lacs , you have to maintain books of accounts .
Agree with Mr Prasad
Ayusmita ma'am....
The person does not maintain books of accounts, so what to do in this case ?
The person does not maintain books of accounts, so what to do in this case ?
In this case he should have to maintain the books of account
you can make it instead by taking the the details
and make the financial statement
profit and loss
and balance sheet and then file the itr 3
in my opinion
you can make it instead by taking the the details
and make the financial statement
profit and loss
and balance sheet and then file the itr 3
in my opinion
Ayusmita
ITR 3 DEPENDS ON THE FOLLOWING ASPECTS
1.income from business or profession
2.partner in a partnership firm
3. Individual director in a company.
ITR 3 DEPENDS ON THE FOLLOWING ASPECTS
1.income from business or profession
2.partner in a partnership firm
3. Individual director in a company.
Ayusmita ma'am.....
Then pls suggest me which books to be maintained in this case.
Then pls suggest me which books to be maintained in this case.
You tell me what is your client doing
Fish farming business
Recent Topic
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
Related Topics
CAclubindia
