Hii everyone,
Someone has Gross receipts during the FY 19-20 is Rs 12,00,000/- . He doesn't want to file ITR u/s 44AD if he will file his return in normal provision than is it ok to go with ITR 3 ..? OR he has to upload Tax audit report also...?
pls confirm
4 Replies
DEEPANSHU SINGH
(ARTICLE)
(137 Points)
Replied 16 September 2020
Yes you can file return in form 3 without filing of audit report but you have to report atleast 8 % of net profit and atleast 50% for the service provider professionals.
Dharmender kumar Jha
(Accountant)
(208 Points)
Replied 16 September 2020
He doesn't want to declare excess income he has expenses more than it
what if than...?
what if than...?
DEEPANSHU SINGH
(ARTICLE)
(137 Points)
Replied 16 September 2020
Then he have to get his accounts audited under section 44AD.
Dharmender kumar Jha
(Accountant)
(208 Points)
Replied 16 September 2020
Need to upload tax audit report...?
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