If a person (Proprietorship) doesn't maintains his books of accounts for his bussiness and if he has opt for section 44AD.
Than which cash to disclose in ITR:
1) Cash held at bussiness or
2) Cash held at bussiness & in personal file
Menu
Cash disclosure in ITR 3 u/s 44AD
Replies (6)
Its 'Financial Particulars of the Business. ......... so cash at hand of the firm.
But some people say that cash of both proprietorship & personal file to be shown because we are filling return in name of individual and not in the name of bussiness
Yes, I agree........ and that should be for safer side.......
But refer the head,...... PART A : BS........... BALANCE SHEET AS ON 31ST DAY OF MARCH, 2017 OF THE PROPRIETORY BUSINESS OR PROFESSION...............
So, for those who maintain accounts of the firm inclusive of personal/capital accounts.... the cash at hand would be inclusive of both......
So sir I am only disclosing bussiness cash in ITR and not the personal cash
Well, you can justify....... Schedule:: PART A- BS....... of ITR 3............. (AY 2017-18).... No Account Case..
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,2017, in respect of business or profession)
a. xxxx b. xxxx c. xxxx d. xxxx
what if I file ITR 4
Recent Threads
- How to complete form10E Table details for the year
- How to submit ITR for old F&O losses
- Can an Software Engineer be termed as a workman an
- PF withdrawal in IT
- Resolution of Potential Double Taxation on NSC Int
- LTCG reporting in ITR2
- Pls advice to sell and we can make invoice to susp
- Most reliable solution to export offline OST to PS
- Sale of Mutual fund by NRI
- Why Should Businesses Prioritize SEO?
Related Threads
CAclubindia
