Section 44ad

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Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2013 if person comes under section 44ad
1)Can they mention in non Account column in ITR-4 only..? ( like Gross receipt , Gross profit)
2) or mention all the column..? (in pnl sales , exps & in balance sheet capital, creditor, debtor, cash , bank)

pls give a suggestion..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

14 June 2013 If 44AD is opted, ITR 4S is recommended in which column E7,E8,E9 an E10 viz., debtors, creditors, stock and cash balance has to be filled up.

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2013 but sir itr-4 have a column for non account..is it not for a person who comes under section 44ad

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

14 June 2013 ITR -4 Should be used when it is applicable or ITR 4S is not applicable.
.
In case the person is having income from capital gains or is having income from 2 properties, ITR -4S is not applicable. In such a case the person has to file ITR-4 and he can opt no book option and has to provide 4 details in P&L and 4 Details in Balance Sheet.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2013 Thanks sir for clear my doubt

Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2013 & sir

if i file itr-4 under section 44ad & mention detail in No Account Case.
Now what should be mentioned in column no. 33i ( section 44ad) 0 or net profit amt..?

Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2013 & sir
if i file itr-4 under section 44ad
& mention detail in No Account Case.

Now what should be mentioned in column no. 33i (for section 44ad) 0 or net profit amt..?

Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2013 & sir
if i file itr-4 under section 44ad
& mention detail in No Account Case.

Now what should be mentioned in column no. 33i (for section 44ad) 0 or net profit amt..?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

17 June 2013 You have to mention Profit U/s 44AD there.
.
In the subsequent columns also the same amount will be repeated.
.
Against Item D (after col. No. 44) the said amount should be reflected.
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