itr 4 - query
This query is : Resolved
21 September 2008
ITR4: P&L and BS needs to be just for business or for assessee as a whole?
21 September 2008
YES SINCE THER IS NO ADDENDUM FOR EACH BUSINESS IN ITR-4.
21 September 2008
So assessee's non business items will also be included?
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.
21 September 2008
Only for business financial statements :-)
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.
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