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Urgent! itr4 help needed!

ITR 396 views 2 replies

Somebody please help me on this regard. I'm stuck!

Gross Profit or Net Profit of presumptive income should be filled in the 34(i) ie, 44AD filed of Shedule BP?

Thanks in advence,

Prasanth

Replies (2)

Your doubt is not clear. Please ask your question clearly.

I'm asking about the 44AD field (ie, 34i) of Schedule BP in ITR4 of AY2015-16 java utility. In the P&L, I have filled the "NO ACCOUNT CASE" (section 53) with the Gross Receipts, Gross Profit Expenses and Net Profit, as I'm not maintaining any books. 

For Eg: 

Gross Profit: 923971

Expenses: 352123

Net Profit: 571848

All these figures comes under presumptive income(ie, 44AD). Now, I have to show it as presumptive income in Schedule BP(34i). Whether I have to fill the Gross Profit or Net Profit(ie, 8% or above of the turnover) in this field? ie. 923971 or 571848?

See the images for more clarity:

  


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