i have vehicle income u/s.44AE and agriculture income of Rs.12000/-
1. which itr i shall have file
2. if i have file itr3 because agriculture income is more than rs. 5000/- and showing income u/s. 44AE then income tax department treat this return as defective because they said that if assesse shows income under presumtive scheme basis without filing gross receipts or total sales fields in profit and loss account. but i have shown income u/s.44AE then how i filed gross receipts. what is the solution of this quarry.
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which itr form i shall use
Replies (4)
That could the defect of the utility......... you have to follow the rules as prescribed under the act.......
The gross sales & gross receipts are required to be filled when books of accounts are maintained, or under sec. 44AD/ADA ....... but not u/s. 44AE.
You cannot file any other ITR than ITR3. But make sure to reply 'No' in the column......
'Whether you are required to maintain books of accounts u/s. 44AA?' in General Information.
& choose transporters code properly. 'Freight transport by road ... 11008'
Agreed with Rambia sir answer....
Good explanation by Mr Dhirajlal sir
i m choosing the code 11015 coz the the business is vehicle on hire
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