Income tax

Efiling 762 views 3 replies

J P Shah

proprietor

24 Points Joined June 2009

Dear All,

If certain conditions are satsfied a PERSON can file IT return disclosing income u/s 44 AD. However while filing ITR 5 for a Partnership Firm I have a typical problem.

e.g. Net profit of the firm before interest and remuneration to partners is Rs 100. Interest to partners amount to Rs 70 and Remuneration to partners Rs 30 making taxable profit of the firm NIL. My querries

1 whether full BS sheet should be filled in or only last 4 figures should be given

2 whether full P & L should be filled in or only last 4 figures should be given

3 Should I fill in line no 33i in BPsheet. If I fill this, the income amount gets nagative at line number 32. Of course later on it gets actual amount of income. If I do not fill amount in line 33i how the AO shall come to know that I have offered income u/s 44AD.

Replies (3)

Guest

Your Solution are here:

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Guest

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