CA JAYESH RELKAR (CA) (335 Points)
12 July 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169269 Points)
Replied 12 July 2017
If the professional income is eligible for section 44ADA.......... No need for BS & P&L acc filling....
CA JAYESH RELKAR
(CA)
(335 Points)
Replied 12 July 2017
he has income under all heads .. say... CG + Salary + HP + other source... So no question of 44ADA comes into picture
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169269 Points)
Replied 13 July 2017
Yes, if TDS u/s. 194J not deducted for the professional receipt of 1.1L !!
CA JAYESH RELKAR
(CA)
(335 Points)
Replied 14 July 2017
Yes. TDS is deducted for professional receipts.
So, Can I File ITR 3 for FY 2016-17 with "no accounts case" for professional income ?? or
Shall I have to prepare balance sheet for it.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169269 Points)
Replied 14 July 2017
Yes, ITR 3 can be filed for all the incomes, including PGBP u/s. 44ADA..
If presumptive income u/s. 44ADA declared 50% or more.......... No need of P&L acc and BS...... but few details as per ITR..........
CAclubindia
