Itr 4 return problem ??

Dear All,

I am filling ITR 4. I have two query :

1) In P & L schedule - no account case - "What is cash in hand " - is it bank balance as on 31st march or only cash  or both.

2) Part B- TTI - Details of Bank account - Should i fill proprietorship current account details also ? 

Replies (9)

Only cash balance is to be entered and that too held in proprietorship business.

With regards to bank account details, all the bank accounts, whether it is savings or current. All the active a/cs are to be shown 

but current account name is different. 

Induivual name - ABC

Current acc*nt Name - XYZ 

i am filling salary return total salary rec 25000 per month 25000*12=300000

tax reb.200000 total income 100000 tax 10000 right

 

Total Income Limit is 250000 for financial year 2014-15 in 2000 tax rebate u/s 87 if filied your return in time your investment in tax saving Scheme zero tax payment

@ Nisha Yadav: That is fine. You still need to mention that current A/c.It need not be that current a/c must be in the name of proprietor. When the business is regd, could be that it is regd with some other name. However as far as he is the holder of that current a/c which is the name of his proprietor business, it needs to be shown in the itr. In business details, trade name. I.e Part A - Nature of business, you must have filled that tradename, is it correct?

@ Bharat Diamopnd Bourse:

Your taxable salary is 300000. However if there is any pf deduction, then it will be a deduction allowed u/s 80C. Also if you have made any other tax related investments such as ppf, nsc etc then even that is allowed as deduction reducing your tax liability.

Above all, if you are talking this example wrt fy 2014-15 then basic exemption limit is 250000 and not 200000. Also there is a tax erebate since your taxable total income does not exceed 500000 (presuming salary is the only source of income)

Thank you very much Ms. Rinkal. Finally I have uploaded ITR 4 .

But i did not do e verification .. Is there any time limit for e-verfication 

Although there is no time limit prescribed for everification but it is implied that if the assessee is unable to e- verify the return, then the assessee needs to send the physical copy of itrv duly signed within 120 days of the return uploaded to treat the return valid. Hence in that case it can be presumed that you have 120 days to everify from the date of filing itrv from the date of uploading the return

Thanks ,You help me a lot !!!! 

 

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