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Query for ITR - 3

virag (Account and Tax consultant) (115 Points)

29 June 2019

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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7 Replies

Damyantee Rai (other) (292 Points)
Replied 29 June 2019

Yes, some of the fields like sundry creditors, cash balance etc. are mandatory, may it be '0'.

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virag (Account and Tax consultant) (115 Points)
Replied 29 June 2019

thanks for the answer...

it's advisable to fill '0' or we must have to enter amount while filing for presumptive income ?

Damyantee Rai (other) (292 Points)
Replied 29 June 2019

If any amount is already clear, better to fill that.

virag (Account and Tax consultant) (115 Points)
Replied 29 June 2019

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.