Itr

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2018 I have cyber cafe and online services work like online payment money transfer tickets booking and all others so i bank transaction is big in bank account more then 30 lakh and my profit is around 3-3.5 lakh so how i file itr and how to show these bank transaction in the ITR So please Tell me How File ITR And Which ITr File

Expert : Anonymous

Expert : Anonymous (Expert)

07 December 2018 Ate You deal Commission business...? Then the Commission value only for Your turn over.

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2018 Sir no any commission recieved i work that services and charges extra on them like 50-500 re its my income

So please tell me that situation

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Z (Expert)
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11 December 2018 Your income would be considered as a commission because the impugned service charges are nothing but the charges which you have received for the performance of your service which includes money transfer, ticket booking etc.

Commission means " authority to act for, in behalf of, or in place of another"
As per S.182 of the Indian Contract Act, An "agent" is a person employed to do any act for another, who is so in dealings with third persons. The person for whom such act is done, or represented, is called the "principal".

When you are booking the ticket, are you not booking it on behalf of your client?
When you are affecting money transfer, are you not doing it under the authority of your client and for him? (or do you give him details of your bank account and he affects the money transfer? if no, then you are earning commission income.)

Therefore, you are acting as a commission agent and the so called service charges are your commission income. You should use ITR-3 for return filing purposes as ITR-4 (S.44AD/ presumptive income) is not available to you.

Since you have a cyber cafe, use the code "0714 Service Sector [Others]" for the nature of business.

prateek63@yahoo.co.in

Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2018 Sir I Have Also Service Photocopy Printing & Form Filling So USe This Code And use as Commission

Z (Expert)
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11 December 2018 14007 would be more appropriate [COMPUTER AND RELATED SERVICES]
This would include all your incomes from photocopy, ticket booking, use of internet and computer resources, etc.

Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2018 Its Means Use this Code and Fill Itr And bank Tranaction is Not matter That Use in ITR Bcacsue Ist Huge Transaction does notb calculate