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".
Menu
ITR-3 in case of Sole Proprietor
Replies (5)
Yes... He can.
Sir,will Section 44 AA not apply here?(As the Gross Turnover exceeds the limit of 25 lacs )
If the said business notified in sec 44AA then need books of accounts
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
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.
Recent Topics :
- TDS filing for the 1st quarter of TY 2026-27
- Login into Old Traces Portal
- Professional Income reporting in ITR-3
- Pf exemption in hand of spouse on demised of husba
- Missed deadline to revise ITR for a foreign asset
- Durga Puja 2026 Dates: Mahalaya, Shashthi to Vijay
- Indo-MIM IPO Allotment Date, Status Check and List
- GSTR 1 filed but GSTR 3 B no filed
- ITR FORM FILING REGARDS
- TDS JUSTIFICATION REPORT
Related Topics :
CAclubindia
