Itr 4 ay 2010-11

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deepak (Querist)
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16 December 2011 I want to file Return u/s 44AF Retails Can any guide, I have given the details of the expense & Others details in NO ACCOUNTS CASE, and then should I have to mentioned Turnover basis profit u/s 44AF

Kindly guide

Regards
Deepak

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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16 December 2011 Net Profit should not be less than 5% of Turnover.
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You have to fill up 4 itemes in Part A BS...(Balance Sheet's item No 6)and Last 4 items of Part A-P&L.
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The figure of Net Profit has to be shown in Schedule BP Item No 1, 4 , 33, 34,36,37 and in Item C respectively, by following the instructions of addition and subtraction.

deepak

deepak (Querist)
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17 December 2011 Gross Receipt Rs.1671354
Gross Profit Rs.199047
Expense Rs.36038
net profit Rs.163009

Sundry Dr. NIl
Sundry Cr. 9000
Cas/Bank 15660
Stock in Trade :- NIl, as it is kirana store difficult to asses stock, or should need to mentioned the stock

And Sir 5% Profit of the Turnover is Rs.133000/- but our profit is more than that Rs.163009