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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2015 Respected Sir/Mam,

One of my client convert his proprietorship into partnership firm. now i want file his ITR 4. in ITR 4 how can i show stock transferred to that firm. whether it should be treated as sale???

Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2015 If the goods covered are liable to VAT, necessarily invoice has to be raised to comply VAT rules and consequently consider as SALES in ITR-4.

In other cases show in Part A - P & L column 2(x).