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Presumptive & Non- Presumptive income in ITR-3
Dear sir, I have manufacturing business and turnover less than 1 crore. I want to show presumptive & Non- Presumptive income in ITR-3, I am registered with GST. it is possible.
Replies (7)
Which other income you earn, other than the manufacturing activity?
I also earn commission & brokerage, rent
In that case total income needs to be declared under regular assessment. (Presumptive assessment not eligible).
Thanks 🙏
You are welcome.
Manufacturing business can be shown under presumptive and commission business can be shown under non presumptive
Yes, it is possible to show both presumptive and non-presumptive income in ITR-3 if you are a registered GST taxpayer and have a manufacturing business with a turnover of less than 1 crore.
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