Query regarding filling the details of STCG
This query is : Resolved
Guest
Guest
(Querist)
29 December 2010
Dear Friends / Experts,
A, an individual has a automobile workshop business.
In addition, A has done voluminous transactions - both intra & delivery based.
Query
A is treating the delivery based transactions as business and proceeding for Tax Audit.
Where do we mention in the ITR form regarding the details of Purchase and Sales Transactions of Delivery based, as the sales transactions touched the turnover of Rs.80 Lacs ?
Ans : ..............
Please advise me to fill in the appropriate fields.
I shall wait for the Experts' Expert views.
Thanks.
DK.
A, an individual has a automobile workshop business.
In addition, A has done voluminous transactions - both intra & delivery based.
Query
A is treating the delivery based transactions as business and proceeding for Tax Audit.
Where do we mention in the ITR form regarding the details of Purchase and Sales Transactions of Delivery based, as the sales transactions touched the turnover of Rs.80 Lacs ?
Ans : ..............
Please advise me to fill in the appropriate fields.
I shall wait for the Experts' Expert views.
Thanks.
DK.
CA PARAS BAFNA
(Expert)
29 December 2010
You may show Sales in Form ITR-4
Part A-P&L
Item No 1 Sales/ Gross Receipts of the
business.
Item No 7 Purchases
Part A-P&L
Item No 1 Sales/ Gross Receipts of the
business.
Item No 7 Purchases
Guest
Guest
(Querist)
29 December 2010
Thank you for your immediate response.
Please note that A also has automobile workshop business, where he has collections / receipts of approx. Rs.3.05 Lacs.
Query
Do you mean that in the gross receipts,
A has to add the workshop collections plus sales value from delivery based transactions ?
Please clarify and confirm.
I shall wait for your response.
Please note that A also has automobile workshop business, where he has collections / receipts of approx. Rs.3.05 Lacs.
Query
Do you mean that in the gross receipts,
A has to add the workshop collections plus sales value from delivery based transactions ?
Please clarify and confirm.
I shall wait for your response.
SANDEEP KUMAR SHAH
(Expert)
29 December 2010
CONSOLIDATE BOTH THE P/L AND PROCCEED TO FILL UP ITR 4 AS ADVISED BY MR. PARAS BAFNA
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