A regular salaried person received a one time payment from a builder for referring customer in FY 17-18. He needs to resubmit ITR3.
If there is a single transaction from receipt of builder for 1.5 Lacs shown as income, is he liable to maintain accounts under 44AA?. If no accounts are required then the filing is simple since he can fill Item 6 under BS with zero (6a to 6d) and Item 53 for P&L with receipt & profit filled with payment received. However if accounts are to be maintained as per 44AA what else to fill in BS and P&L section since there is only one single transaction/receipt from referring customer and no creditor/debtors, expenses, closing/opening stock, etc etc.
What code to select for nature of business - 0301- general commission agents or anything else ?
Thank you.
CAclubindia
