Schedule QD - ITR 5 - AY 2022-23

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An Indian IT-enabled services company, specialising in 100% online exports, is facing difficulties completing the mandatory Schedule QD on their ITR 5 for AY 2022-23. As they are not involved in trading or manufacturing and have no closing stock, they are unsure what figures to enter. The schedule is preventing ITR validation, and they are seeking guidance on how to proceed, including whether to input zero or one, or if software correction is needed.

Amit Rampuria

Amit Rampuria (Querist)
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23 July 2022 I am working for IT enabled services (Software Online) related company in India. our transactions are 100% export and 100% online service related. During the fill up of ITR 5, I am facing problem to fill the Schedule QD which is mandatory if Tax Audit is applicable.

Please let me know what figures to be filled in this schedule ?
without fill up the schedule, ITR is not validated.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 July 2022 Fill up with zero if it's accepted proceed with validation.
If not fill it with 1 it will be validated.
Software correction required in ITR 5 QD schedule not applicable in case service provider.

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Amit Rampuria

Amit Rampuria (Querist)
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25 July 2022 In which section I should show this because we are not a trading concern , not manufacturing concern and even we don't have any closing stock.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 July 2022 Raise grivences in the portal.

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