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presumptive ITR

27 May 2018

my business turnover for AY 2018-19 is Rs. 1.8cr. and my profit is more than 8%. can I file my return in ITR 3 as per P&L and Balance sheet?

or I should file only presumptive income ITR 4?

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9 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 27 May 2018

What is Your nature of Business...?

As per Your turn over You can file ITR under presumptive taxation scheme...
But,
The scheme based on business nature...

Also You can file ITR 3 with BS and PandL.

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CA CS NITIN MAHAJAN (CA ) (273 Points)
Replied 27 May 2018

You can go for any option (presuming, you fulfill the requirements of section 44AD)

GST CENTRE (92 Points)
Replied 27 May 2018

my nature of business is trading of CCTV, gst return filing, it filing profession income I am showing separately in my pandl. for which I am calculating 50% of gross receipts remains in trading I am considering more than 8%. both I have different GST registrations.