In this year's ITR-4, some fields are mandatory. E15: SUNDRY CREDITORS E19: INVENTORIES E20: SUNDRY DEBTORS E22: CASH-IN-HAND. I have rent out my car to a company and earn rental income out of it. I have been filling ITR-4 showing this income as Presumptive business income.
My questions are as follows:-
1. I assume that in my case, E15 & E20 are zero. E22 should also be zero, as I do not have any cash-in-hand and all the payments are received directly in the bank account. What should I enter in E19? Can my car be classified as stock-in-trade and do I have to mention the IDV of my car here?
2. E21 is not mandatory, but I am thinking of mentioning my bank balance as on 31-Mar-19. Again, I have 2 saving A/Cs. I receive this business income in one of those A/Cs. Should I mention here the bank balance of the latter A/C or all A/Cs combined?
Regards...
CAclubindia
