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Turnover for no accounts case?
Can any one suggest me the maximum turnover upto which I can opt no accounts case in ITR-3.and am I liable to show any min percentage?
Replies (3)
Quick Summary
Max turnover is 25lacs and max income is 2.5 lacs. even if your turnover is within 25 lacs limit i think you might still be ineligible as your income would probably be more than 2.5 lacs. Do check both criteria before selecting no accounts case.
minimum NP ratio of 8% is required
minimum NP ratio of 8% is required
Agree with above
You can opt for presumptive taxation - 44AD or 44ADA or 44AE where no accounts are required to be maintained. You can use ITR 3 or ITR 4 based upon other facts.
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