ITR3 relared query
FAHEEM AKRAM (293 Points)
16 July 2018
If previous return was ITR3 where balance sheet and profit & loss account shown So this year can be filed u/s 44AD???
2 Replies
Amish Maknojia
(Student)
(507 Points)
Replied 16 July 2018
additional condition has been added by substituting sub section (4) of 44AD which is –
If you are opting for the presumptive scheme, you must
a. File presumptive scheme for at least 5 years in continuation
b. If you decide to show and file profits as per regular business (ITR-3) before the end of these 5 years, you will lose presumptive benefits and disallowed from presumptive taxation for the subsequent 5 years.
Please note that 5 years shall be counted starting the year in which you first file usual taxes for such business.
If you are opting for the presumptive scheme, you must
a. File presumptive scheme for at least 5 years in continuation
b. If you decide to show and file profits as per regular business (ITR-3) before the end of these 5 years, you will lose presumptive benefits and disallowed from presumptive taxation for the subsequent 5 years.
Please note that 5 years shall be counted starting the year in which you first file usual taxes for such business.
FAHEEM AKRAM
(293 Points)
Replied 18 August 2018
how to figure out while filing ITR3 if I have GST detail......how to know Department I have GST ?
pizza answer.....
pizza answer.....
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