Itr-4 query urgent

A proprietor has following details:- Capital.........................70000 Profit and Loss.................50000 Total...........................120000 Bank balance....................20000 Cash............................20000 Current account..................80000 Total ...........................120000 Current account is nothing just amount withdrawn for personal use which is to be adjusted against capital account at the end of the year after transferring profit and loss account to capital account. Profit and loss a/c dr.............50000 Capital account.....................50000 now capital becomes 100000 Capital account dr...............80000 Current account...................80000 Closing capital=70000+50000-80000=40000 My query is in ITR-4 how much capital is to be shown Rs.70000 or Rs.40000 

Replies (3)

Rupees 40000.00 only.

After all the adjusments and finalisation of balancesheet, the closing blance of capital account should be reported in form ITR 4

It means profit to be shown in a merged figure with capital????????

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details