itr-4

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Ananta prasad tripathy (Querist)

30 August 2010 ITR-4 is applicable for INDIVIDUALS and HUFS having income from a proprietory business or profession.As payment of tax in case of an individual is not an expense,but is a personal expense of the individual and it has to be debited to his capital account. But ITR-4 has a schedule of profit and loss account, which has a column of provision for tax .So how we fill that column as no provision for tax account is maintained in individual case?

CA SMR

CA SMR (Expert)

31 August 2010 There is no need to fill up this column of provision for taxation.In the excel utility tool for ITR-4,the income tax gets calculated in the sheet PArt B-TI TTI

mohinder kansal

mohinder kansal (Expert)

02 September 2010 FIGURES SHOULD BE FILLED UP ACCORDING TO THE P L AS PREPARED BY THE PROP. IF PROVISION FOR ITAX IS MADE THEN FILL THE COLUMN OTHERWISE MAY BE LEFT BLANK. THERE IS NO PROHIBITION TO MAKE PROVISION OF I TAX IN PROP. CONCERN.

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