Basic queries in form itr

This query is : Resolved

Guest

Guest (Querist)

27 July 2011 Dear Friends / Experts,

Please see the following and do me the needful :

Query 1 - ITR-5

Where do we fill the item 'Profit on sale of land' in the ITR-5.

Ans : .................. (Whether it will appear in P & L under the field ---- Profit on sale of fixed assets)

Query 2

As the item 'Profit on sale of land' is taken as deduction in Computation Statement, Where it will appear in BP

Ans : .................. (Whether it will appear in BP under the field no.30 ---- Any other amount allowable as deduction)
I shall wait for your replies.

Thanks.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 July 2011 Where do we fill the item 'Profit on sale of land' in the ITR-5.

Ans : Part A ,P & L columb 3(e).

Query 2

As the item 'Profit on sale of land' is taken as deduction in Computation Statement, Where it will appear in BP

Ans :Sch BP, A3.

Sir
Land being a non depreciable asset, Sch CG, A or B has to be filled up.

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