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ITR 3 AND ITR 4

Rahul Kumar Agrawal (42 Points)

13 August 2018

Whether it is mandatory to prepare P&L A/c and Balance Sheet and upload it on e-filing site ?

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4 Replies

Piyush Shirodkar (CA Final Student) (1358 Points)
Replied 13 August 2018

no, you can select no account case and upload the relevant return on the e-filing portal

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Nikhil Kaushik (Fellow CA) (85706 Points)
Replied 14 August 2018

Dear Rahul,

before advising check whether the person is covered under 44AA or not.

(Guest)

A Tax Audit is an audit, made compulsory by the Income Tax Act if the annual gross turnover/receipts of the assessee exceed the specified limit. The tax audit is conducted in Sec 44AB of the Income Tax Act by a Chartered Accountant

(Guest)

an individual or a HUF is a partner in a firm AND. where income chargeable to income-tax under the head “Profits or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, due to, or received by him from such firm.