Which ITR to use

A person has income from commission wherein TDS is deducted u/s 194 H, receipts below 50 Lakhs, Which ITR to use?

 

Replies (7)
Quick Summary
If you receive commission income with TDS deducted under Section 194H and your receipts are below £50 lakhs, you generally need to file ITR 3. This is because commission income is not considered presumptive income and requires a complete profit and loss account and balance sheet. Even if your turnover is below £50 lakhs, ITR 4 is not suitable in this scenario. You have the option to file as a 'no books account' case if you prefer.

ITR 3
ITR 3

RECEIPTS ARE BELOW 50LAKHS, WHY NOT ITR 4 ?

ITS 3 is compulsory for those who received commission income
Sir your income is not presumptive..
it should be filled by complete profit and loss a/c & balance sheet
What is the turnover?
As the person getting commission and brokerage it's compulsory to file ITR 3
and it's depends upon you to disclose the balance sheet or profits and loss oor file as no books Account case

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