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ITR-3 Filling 44AA

Santosh (Private) (104 Points)

06 March 2024

Sir,
Please advise assess register IN GST turnover Rs.70 Lacs NP 6.50 Lacs. Proper books of accounts Well maintained. if he don't want to avail the benefits of presumptive income section 44AD. Can he file ITR-3 with proper financial record ( Balance sheet- profit & Loss account ) Can portal allow to file ITR-3 in such case. Audit need in case please suggest

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3 Replies

CA Rohit Garg (48 Points)
Replied 06 March 2024

Yes, he can file ITR-3 without audit.

However, if he has previously opted for 44AD, then audit will be applicable.

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 March 2024

Yes I agreed with Mr CA Rohit Garg,

@ Santhosh,

as per above reply if the person not opt 44ad in previous years then audit is applicable (not complete 5 years).

otherwise no issues for filling ITR 3. Bcoz, ITR 3 is suitable for all the conditions to individual...

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 08 March 2024

Even if you opt for presumptive taxation u/s 44AD you can choose to submit all the financial records and for that you will not required to get books of accounts audited.

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