Balance sheet details for return filed u/s 44ad

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sunil bhandari

proprietor

23 Points Joined October 2013

I HAVE TO FILE RETURN FORM -4 AS

INDIVIDUAL HAVE INCOME FROM PARTNER SHIP FIRM / AGRI INCOME/ LOSS IN HOUSE PROPERTY & INCOME FROM BUSINESS U/S 44AD

I PROPERLY FILES DETAILS UNDER NON MAIN OF BOOKS, :- PART A OF BALANCE SHEET S.NO. 6 AND PART A OF P&L S.NO. 53 NON MAIN OF BOOKS FILLED UP

6	In a case where regular books of account of business or profession are not maintained - (furnish the following information as on 31st day of march,2016, in respect of business or profession)
	a	Amount of total sundry debtors	6a	Nil
	b	Amount of total sundry creditors	6b	Nil
	c	Amount of total stock-in-trade	6c	185000
	d	Amount of the cash balance	6d	15800

53		In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2015-16 in respect of business or profession
	a		Gross receipts	53a	688000
	b		Gross profit	53b	688000
	c		Expenses	53c	618000
	d		Net profit	53d	70000

FIRST 1 ) IN THE NORMAL BUSINESS INCOME TAKE THE PROFIT FROM 53 ( NON MAIN BOOKS)

2 ) EXPENSES :- THEN DEDUCTED IT U/S 44AD PROFIT

3) AGAIN U/S 44AD AGAIN DISCLOSED THE TURNOVER & PROFIT OF IT

PROBLEM

BUT NOTICE AGAIN & AGAIN RECEIVED FOR REMOVAL OF DEFECT

PL. ANSWER AS EARLY AS POSSIBEL

Replies (4)

Venkatesh Dangeti

CA Final

885 Points Joined December 2015

itr 3 / itr4 should be filed for partners

VIPINKUMAR K TIWARI

Financial Professional

196 Points Joined January 2011

I AGREE WITH VENKATESH

Dear you have mention that you have filed ITR 4, due to non maintenance of proper books you have show your income in schedule BP under section 44AD, but you have received defective notice from IT department (CPC).

Now, there are two points. First, you will show your sundry debtors as nil and cash balance as also zero. means you show your Balance sheet as (zero) , but do other things same like mentioned above instead of balance sheet, & file it.

Second, you have to do a proper maintain your balance sheet & profit & loss account then file your ITR but, before submit your ITR you have to check proper Schedule BP as well as Schedule HP.

If you still require any help please mention.

Thanks

Your friend

PANKAJ SHUKLA