44AD and ITR4

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G K Agrawal (Querist)
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10 June 2011 The form ITR4 requires you to give debtors,creditors,stock and cash in the above case. The figures of cash should be only for business excluding cash received from house rent, salary etc or a total of all type of receipts. Similarly the figures of other 3 items.
G.K.Agrawal

CA Suresh Jain

CA Suresh Jain (Expert)
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10 June 2011 the proprietorship business is distinct from its owner i.e. the proprietor.
The ITR4 requires the figures of balance sheet and profit and loss account for the busiess or businesses. and therrefore, any cash etc is held by the proprietor other than his business or businesses the same in Part A and Part B. Regards-CA Suresh Jain, sureshjain.nj@gmail.com

G K Agrawal

G K Agrawal (Querist)
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10 June 2011 Dear Suresh Ji

The contents of 4th line of your answer is not clear. Do you mean that cash etc held otherwise than the cash of business is not to be shown in Balance Sheet or PL etc or BP.

G K Agrawal

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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11 June 2011 Yes only cash balance relating to proprietorship business has to be mentioned.

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