urgent help required:problem faced in filling up ITR 4

This query is : Resolved

Saugata Bhattacharyya (Querist)
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30 July 2007 Hi,
Having just started with my private general medical consultancy as a recent medical graduate and a gross receipt for the year 2006-2007 amounting below 1.5 lakh,I am in for trouble filling up ITR 4. Falling in the category of "no account case" how should I fill up the columns of sundry debtors/creditors and stock-in-trade in the Part A-BS? As a matter of fact I have no debts and nor does anybody owe me anything. Moreover, how to ascertain stock-in-trade for me? I don't have any organised accounting system in place till now. I just have my case register with its details and a rough balance sheet. Also while mentioning "cash balance" I have to refer to my rough balance sheet, isn't it? Finally if I mention anything in the expenditure column of Part A-PL (no account case), am I supposed to be having all vouchers against them ready at hand?

CA Sandeep Jhawar

CA Sandeep Jhawar (Expert)
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20 August 2007 As ur income is below Rs. 1,50,000/-. U need not have to maintain any books of accounts as per sec 44AA of IT Act.

My suggestion is just fill only the P&L items in ITR - 4 and fill it with the department.

Its not compulsory to fill the balance sheet details in ITR - 4. U just write in Balance Sheet Cloumn "NIL"

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