ITR-4 section 44AD

420 views 8 replies

Respected Sirs/mam,

I have two query regarding ITR-4, please sort out:-

1) If I have Business Receipts from Cash and Bank mode both, and I am declaring profit 15%, then whether I need to segregate the sales in Bank mode & Other mode 

or I can show directly in Other Mode??

2) In Financial Particulars of Business, If i show zero in all columns to process return whether its right ?? Because, If any time in future, I need to make B/s or P&L then, I shall not to match with figures given in ITR 

Replies (8)
1) you can do so but it is recommended to bifurcate these amounts.

2) This way is wrong.
Fill bank balance mandatorily since it can't be zero.
Tds asset should be filled under deposits or balance with revenue dept

I don't remember off the top of my head, but I believe a few basic figures are required. Happy to be corrected!

Non-cash revenue and cash revenue

Nett income offered for tax

Basic balance sheet figures such as cash, Bank balances, receivables and payables, tds and advance tax, stock valuation

ITR-4 has few mandatory figures and few optional .

Main thing is balance sheet need not match
Agreed with jjj
@ Ahuja Shekhar

1.You can show under other mode
2Fill mandatory fields atleast

It's better to mention 1 of the actual figure like debtors or creditors or stock or cash balance. 

 

ITR-4 is the case where the books are not maintained but you have to take care about the few figures like bank balance

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