Help regarding current year loss

vkbothra (Learning ) (690 Points)

18 September 2009  
I am having a problem regarding current year loss. One of my friend is working as a propritor in a propritorship firm. In that firm he got profit, which is taxable, and in his personal balance sheet he is paying interest on borrowed capital, which is invested in his firm. Now how to fill ITR-4 and where to mention that current year interest loss, mean in which column? Is it possible to merge personal and propritorship firm's balance sheet?