1. He is a Professional and earns Professional Income. 2. He earns brokerage Income, which is very snall.
X wants to opt Presumptive scheme but cannot file ITR 4S due to brokerage income.
Brokerage income amount as stated above,, is very small as compared to his Professional income.
QUERY
Can X file ITR 3 by showing his professional income under Presumptive Scheme in Section 44ADA and showing WHOLE AMOUNT of small brokerage ( THAT IS without claiming any expenses incurred in earning the brokerage) as INCOME FROM OTHER SOURCES.
15 July 2018
Sir thanks very much. but the basic query is to know that if the brokerage is small as compared to main professional income, can brokerage amount be shown in income from other sources.
CAclubindia
