Related to itr
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2015
Respected Sir/Mam,
One of my client convert his proprietorship into partnership firm. now i want file his ITR 4. in ITR 4 how can i show stock transferred to that firm. whether it should be treated as sale???
Thanks in advance
One of my client convert his proprietorship into partnership firm. now i want file his ITR 4. in ITR 4 how can i show stock transferred to that firm. whether it should be treated as sale???
Thanks in advance
10 October 2015
If the goods covered are liable to VAT, necessarily invoice has to be raised to comply VAT rules and consequently consider as SALES in ITR-4.
In other cases show in Part A - P & L column 2(x).
In other cases show in Part A - P & L column 2(x).
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