Principal item as in Form 3CD for 44AB

i want to form no.3cd

Items which constitute 10% or more of total value of purchases, consumption or stock are classified as Principal Items.

dear bhuvnesh
thanks for your reply..but where is it stated?...can you refer any book?.. i hv another in your reply..u said 10% of total purchases,consumption or stock..remember one thing may be more than 10 % in purchases but may not be in stock...and another may be 10% in stock but may not be same in purchases..then how can it be identified..

send me your mail id i send u the form

hi, Bhuvnesh has said 10% of purchase ,consumption or stock.ya it is possibke that one thing may be in purchase but may not be in stock but Is that possible whether one item is in stock may not be in purchase?it is not possible. OK. so 10% of purchase whether it is not in stock will be taken as principle item.

Hope its clarified now. Moreover item which is more than 10% of the aggregate under the relevant head will represent a principal item for that very particular head only. So if the aggregate of Stock of Generators represent 10% or more of the total stocks that will be taken as a principal item for Closing Stock and not for purchases if the 10% criteria is not satisfied.

hey..thanks for your replies. but i have one more connected with it. while submitting the return form till last year, we shall submit an annexure along with the audit report if there is no prinicipal item. But from this AY, in ITR, there is no way to annex. so in case of no prinicipal item, is it enough to just state it as nil or else how can we do it?

Originally posted by :Guest
"	i want to form no.3cd	"

 

Originally posted by :Guest
"	i want to form no.3cd	"

 

Originally posted by :Guest
"	i want to form no.3cd	"