Pgbp (income other than speculative business)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2012 I've income Rs. 50,000 u/s 194J, I'm preparing itr-4 from the utility available at www.incometaxindiaefiling.gov.in website,
In PGBP, the Incom other than Speculative Business are many fileds starting with 1 to 37, which field should be selected by me file the ITR correctly.

Plz note that i'm preparing the return using the utility provided by incometaxindia site.

Plz help me in correct filing of return.

THanks in advance.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 July 2012 It is your profession income and your gross receipts is i.e total fees collection is Rs.50,000 so it indicate in the column no 1 in P&L loss shedule and then fill if any expenses incurred by you to aquaire such income in the related expense provided in the shedule P&L and then by separating the expenses total from the incomes total you arrive column no 43 which indicates the net profit/loss for the year and this amount automatically posts in the coulmn no 1 of the Schedule PGBP and also others columns would be zero(i think for your case).

Note: Just follow the instructions giving in the form i.e additions,separations and reference column or rows or cell no etc... you can easily fill the form.

However consult any auditor office if you feel doubt. But it is better to consult them because they will guide you to filing your return of income.

OM SAI SRI SAI JAI JAI SAI

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