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Which ITR FORM

ITR 225 views 4 replies
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Business
28 Points Posted on 29 June 2020

Hi,

Person earning commission through collection of loan amount. Which ITR form is applicable.

How can his expenses included in filing.

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On 29 June 2020 at 07:33 Report
Replies (4)
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Practice
3235 Points Posted on 29 June 2020
ITR 3 as this is a business income not eligible under section 44AD/44ADA..
13 Reply
On 29 June 2020 at 09:33
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Chartered Accountant
821 Points Posted on 29 June 2020
Use ITR 3...Work out the profits (income - exp) and offer it for tax purpose
1 Reply
On 29 June 2020 at 12:07
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Business
28 Points Posted on 29 June 2020

Is there is any problem in filing in ITR 2, in other sources of income. 

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On 29 June 2020 at 14:40
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Chartered Accountant
821 Points Posted on 29 June 2020
It should not be an issue..... In that case u can claim expenses as per section 57
1 Reply
On 29 June 2020 at 14:43


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