Query regarding appropriate account head

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This query is : Resolved

Guest

Guest (Querist)

18 December 2010 Dear Friends / Experts,

Please advise me on the following :

ABC Private Limited is engaged in the business of software development.

Query

Whether amount pertaining to 'Software Sales' and 'Software Development Charges' shall be as filled in the field 'Sales/ Gross receipts of business or profession (Net of returns and refunds and duty or tax, if any)' in P&L of Form ITR-6.

Ans : ...................

Whether amount pertaining to the following account heads shall be filled in the field 'Other Income' in P&L of ITR-6 :

a. Implementation & Training
b. License Fees-Webspace - Receipts
c. Other -Devices Interfacing

Ans : ...................

Which is the appropriate field in P&L of Form ITR-6 for the following account heads, which appear after PBT in P&L ?

a. Preliminary Expenses Written Off
b. Product Development Expenses Written Off

Ans : ...................

(Is it the only field is 'Provision for Deferred Tax' ?)

I shall wait for your clarification.

Thanks.

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)

18 December 2010 1. yes, it is a gross receipt from business or profession.

2. Regular receipts shall be taken in sales or gross receipts from business or prof. Any other income which comes ones in a blue moon shall be taken to other income.

3. these shall be clubbed with other expenses.

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