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Itr 4
In the utility for ITR-4
No regular books of accounts are necessary
Where to enter
1. Salary
2. Expenses such as Power & Fuel, conveyance.
If the entire composite expense is entered in 53(c) then it gets carried to row 18 of Part B TI and doesnot get deducted from salary for computaion of IT.
Replies (1)
If you have business loss, this is not allowed to be deducted against salary income as perIncome tax Law. That is the reason why it does not get deducted. Ths loss will be carried forward and adjusted agaisnt business profit of later years, provided you file the return on time.
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