My Client is a sole proprietorship with GST Regular Registration.
For FY-2018-19
Sales-35 lacs
Net Profit -4 Lacs
Now while filing ITR-3 can we claim that the client is not maintaining any
books of accounts and fill the data under "No Accounts Case".
5 Replies
anuj kumar khaitan
(Article )
(127 Points)
Replied 09 June 2019
Sir,will Section 44 AA not apply here?(As the Gross Turnover exceeds the limit of 25 lacs )
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 09 June 2019
If the said business notified in sec 44AA then need books of accounts
Rahul Falodiya
(16 Points)
Replied 09 June 2019
EVEN in ITR 3, you can show business under presumptive I.e. Sec. 44AD. And in your case, you are showing profit more than 6/8%. Therefore show under 44ad and maintain no books, otherwise follow 44AA
anuj kumar khaitan
(Article )
(127 Points)
Replied 10 June 2019
During the Assessment Year 17-18 (Turnover -32 lacs and Profit-3.5 lacs) ITR-3 for the above client has been filed by some other CA under the "No Accounts case",however 44AD has not been adopted.Is the same correct and can be done for this year also?
The Client is in Jewellery Business.
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