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Query regd ITR-4
if a person is engaged in Tailoring work and having income 3-3.5 lacs, then Is it mandatory to show Value of Fixed Assets and Bank balance as on 31st March in Financial Particular of the business.
Replies (5)
mandatory to show cash , inventory, debtors & creditors other fields are optional
that i know
but i just wanted to ask that whether Income Tax Department will raise any objection if we don't show the bank balance or fixed assets ?
but i just wanted to ask that whether Income Tax Department will raise any objection if we don't show the bank balance or fixed assets ?
I presume you are using ITR 4 and showing income under 44AD.
it's not mandatory to show fixed assets and Bank balance.
Show Inventory Debtors Creditors Cash on hand as of 31st March 2019 if any . Otherwise enter zero.
it's not mandatory to show fixed assets and Bank balance.
Show Inventory Debtors Creditors Cash on hand as of 31st March 2019 if any . Otherwise enter zero.
filling this details are not mandatory you may left this fields blank
but dept can ask any information they want under various sections subject to conditions specified in those sections
Mandatory fields you have to fill amount or nothing then zero. You can't leave mandatory field blank
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