Itr-3

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V S A PRASAD (Querist)
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08 February 2019 Mr. X is a retail trader with a turnover of Rs. 10.00 lakhs and also having commission income of Rs. 5.00 laksh. TDS is deducted on commission income. He wants to show profit @ 8% for retial trade ( 8% of Rs. 10 lakhs ) and wants to show income from commission busines as Rs. 3.50 Lakhs ( Commission income Rs. 5.00 lakhs less expenditure Rs. 1.50 lakhs). How to fill in ITR

Amol S Joglekar

Amol S Joglekar (Expert)
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10 February 2019 you can go for ITR3
In nature of business, put the names f both the businesses under appropriate code
In profit & loss, fill the details of commission business AND under no account case fill the details of retail trade