While filing of return, when we enter income as presumptive for professional then it's compulsory to enter details in balance sheet and profit and loss account ( regular books of accounts not maintained) details?
Thanks
Virag Shah
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Query for ITR - 3
Replies (7)
Yes, some of the fields like sundry creditors, cash balance etc. are mandatory, may it be '0'.
thanks for the answer...
it's advisable to fill '0' or we must have to enter amount while filing for presumptive income ?
it's advisable to fill '0' or we must have to enter amount while filing for presumptive income ?
If any amount is already clear, better to fill that.
I am asking this because when I enter both details ( Presumptive Income and Profit in regular books of accounts not maintained) ,my profit calculated double and tax gets high..So please suggest solution for the same.
You have to proceed only with presumptive income.
Why you do not file ITR 4 for presumptive assessment?
I have capital gains income also
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