how to fill ITR in case of business AND professional income

ITR 1121 views 5 replies

How do we fill ITR 4 in case of a Professsional (with gross receipts > 10 Lakhs) who is also running a separate and totally unrelated business (not covered in tax audit)??? Esplly the BS and P&L sheets.

Waiting for a quick reply 

Replies (5)

Merge Both Balance Sheets and P&L accounts and fill them in PART A-BS and in PART A-P & L.


;)

agreed with reply to this poat... merged both BS & PL...

Further, limit of Tax Audit is considered Assessee wise and not Business wise...

Both of the replies are correct.

Thank u all of u!

But in this case should the 3CD of the assessee cover within its scope the business income as well despite the fact that it is way below the tax audit limit? Further, would TDS provisions also apply in cases of payments made for the business??

you will have to merge the balance sheets and profit and loss a/c

for filling details in itr form


CCI Pro

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