Filing of Balance sheet along with ITR 4 form
This query is : Resolved
21 July 2011
My income from Business & Profession is Rs 119000/- i.e below Rs 1.2 Lacs & income from interest is 4 Lacs . Whether i am required to furnish Balance sheet in the ITR form no 4
if my income is below Rs 1.2 lacs (Section 44AA (2)?
Please advise
Pankaj Ajmera
if my income is below Rs 1.2 lacs (Section 44AA (2)?
Please advise
Pankaj Ajmera
21 July 2011
use form ITR 4s
21 July 2011
If you follow the expert's advise , you will not require to give full details of balance sheet. Only particulars of 4 items - Debtors, Creditors, Stock and Cash are required to be shown.
.
Your profit should not be less than 8% of the gross Turnover. If it is more than ok.
.
In case profit is less than 8% and you do not want to get your accounts audited, you can claim it up to 8%. However, if you show profit less than 8% of the turnover or Gross turnover is exceeding Rs 60.00 lacs , Tax- audit will be compulsory.
.
Your profit should not be less than 8% of the gross Turnover. If it is more than ok.
.
In case profit is less than 8% and you do not want to get your accounts audited, you can claim it up to 8%. However, if you show profit less than 8% of the turnover or Gross turnover is exceeding Rs 60.00 lacs , Tax- audit will be compulsory.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
