Dear Members
In filling in ITR 4, 5, & 6 we have to fillin Profit & Loss account in the prescribed format. My query is:- My client is a real estate developer. A major part of the works (noth labour works and Material+labour are got done through contract. Hence the Expense appears as (1) Job work Charges paid (2) Work Contracts. In the ITR form there is no provision for these expenses sparately as is provided for (i) Purchase of materials, (ii) Salaries & Wages to employees. In such a case the question is whether the contract expenses are to shown under PURCHASES / SALARIES & WAGES OR to be included in Other Expenses.
URGENT HELP / ADVICE is appreciated.
chenchumohan
CAclubindia
