itr 4 - query

This query is : Resolved

Share Report Follow Query Ask a Query

Rakesh

Rakesh (Querist)
Follow

21 September 2008 ITR4: P&L and BS needs to be just for business or for assessee as a whole?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

21 September 2008 YES SINCE THER IS NO ADDENDUM FOR EACH BUSINESS IN ITR-4.

Rakesh

Rakesh (Querist)
Follow

21 September 2008 So assessee's non business items will also be included?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

21 September 2008 Non-Business income is not supposed to be shown in p&l account.Hence it will not come in the p&l a/c of ITR-4 also.You may compute the income from non-business in any of the remaining heads of income and show in the appropriate head in the ITR-4 also.

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
Follow

21 September 2008 Only for business financial statements :-)

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
Follow

22 September 2008 Non-business income or expense is accounted for through the capital account of an individual, as such it is not going to effect the profit and loss account. As a result the details of profit and loss account of business and balance sheet including the personal assets should be furnished in ITR.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now