No account case for itr-3

Only if you wish to declare minimum 6/8% profit over (eligible business) turnover...

But the turnover is below the limit mentioned in section 44AA.

No problem..... in that case your aggregate income would be below BEL !!

ITR3 can also be used for presumptive assessment u/s. 44AD...... which means 'No books of accounts maintained'  (along with capital gains declaration)

So, whether you file ITR4 or ITR3 it is presumed to be assessed u/s. 44AD......

Sir,

I have income from consultancy (Professional Engineering consultancy), equity delivery and intraday. What I thought was to declare my professional income under 44ada in presumptive income (in no account case section in itr 3) and intraday (not a income but a loss to carry forward to next years) as my business income accordingly in p&l statement. But to be safe as this was my first year with stocks investment/trading, i appointed a ca, who provided my professional consultancy income as Business(sales of services) and intraday losses as short term capital losses. What am i missing ? or was i wrong ? Kindly help if possible in order to understand this. Thanks in advance

This is regarding AY 2019-20.

Since I have unlisted shares (initially listed & then delisted both from BSE & NSE) & don't maintain books of accounts of business, ITR-3 is applicable for me. My business is of building construction & maintenance.

I've been filing my business returns since past few years U/s 44AD @ 6% / 8% (as applicable) in ITR-4.

My query is, for AY 2019-20, in P&L section of ITR-3, should I fill :

Item 61 (COMPUTATION OF PRESUMPTIVE BUSINESS INCOME UNDER SECTION 44AD)

OR

Item 64 (IF REGULAR BOOKS OF ACCOUNT OF BUSINESS OR PROFESSION ARE NOT MAINTAINED, furnish the following information for previous year 2018-19 in respect of business or profession).

If I fill both, the business income is getting doubled. I have tried on the latest ITR-3 JAVA software dated 19-08-2019 (PR 3.2).

And in which of the above case should I fill NO ACCOUNTS CASE in Balance Sheet?

Please suggest.

Fill ONLY details in Item 61....

Thanks for your reply.

As you suggested, I will only fill Item 61 (COMPUTATION OF PRESUMPTIVE BUSINESS INCOME UNDER SECTION 44AD) in P&L section of ITR-3 for AY: 2019-20.

Still confused as to whether I will still need to fill NO ACCOUNTS CASE section in Balance Sheet in this case or should I ignore it?

'Schedule BS' Item no. 6 to be filled.....

Thank you Sir for your reply & help.

Appreciate it.

Can you please brief your answer with provision ?