Itr 5
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2012
Dear experts,
A partnership firm opting Section 44AD and its gross receipts are Rs. 4400000/- and net profit @8% comes to Rs. 352000/- and interest on capital + salary of partners comes to Rs. 332000/- and after appropriation net profit remains to Rs. 20000/-.
When filing ITR 5, col. no. states as -
a Gross receipts - 51a - Rs.4400000/-
b Gross profit - 51b - Rs. 352000/-
c Expenses - 51c - Rs. -----
d Net profit - 51d - Rs. -----
Please advise me what to fill in col. 51c and 51d and how to show their interest and salary in no a/c case.
Thanks in advance.
A partnership firm opting Section 44AD and its gross receipts are Rs. 4400000/- and net profit @8% comes to Rs. 352000/- and interest on capital + salary of partners comes to Rs. 332000/- and after appropriation net profit remains to Rs. 20000/-.
When filing ITR 5, col. no. states as -
a Gross receipts - 51a - Rs.4400000/-
b Gross profit - 51b - Rs. 352000/-
c Expenses - 51c - Rs. -----
d Net profit - 51d - Rs. -----
Please advise me what to fill in col. 51c and 51d and how to show their interest and salary in no a/c case.
Thanks in advance.
12 July 2012
Fill Rs. 3,32,000 in column 51c. Net profit will be Rs. 20,000
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