banner_ad

Working capital is nassecery in 44Ad Returns

716 views 15 replies
User Avatar

1 Points Posted on 04 September 2019
Is it Mandatery to discribe working Capital, and other Mandatery info. in First ITR under 44AD, where business is very small & not having GST No.?
Reply Share Follow
On 04 September 2019 at 12:43 Report
Replies (15)
User Avatar

17264 Points Posted on 04 September 2019
Under 44AD in ITR4 under the financial information there are four mandatory items you have to fill that is Debtors, Creditors, Inventory & cash balance as of 31st March.

No showing of working capital. Leave GST schedule without filling.
101 Reply
On 04 September 2019 at 13:02
User Avatar

Profession Business
28207 Points Posted on 04 September 2019
The audited balance sheet needs to be filed...
Current Assets and Current Liabilities are part of Workin Capital.
44 Reply
On 04 September 2019 at 13:18
User Avatar

17264 Points Posted on 04 September 2019
@ sabyasachi
The querist is going for 44AD presumptive taxation. The audit question doesn't arise !!!
101 Reply
On 04 September 2019 at 14:41
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 04 September 2019
Yes... I agreed to Mr Kapadia Pravin...
463 Reply
On 04 September 2019 at 16:20
User Avatar

Profession Business
28207 Points Posted on 04 September 2019
read Sec 44AB
44 Reply
On 04 September 2019 at 17:18
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 04 September 2019
read the query first...
463 Reply
On 04 September 2019 at 17:19
User Avatar

Profession Business
28207 Points Posted on 04 September 2019
RAJA I DO UNDERSTAND THE QUERY BUT AN ASSESSE HAVING A TURNOVER more than OF RS. 50 lakhs WIL PREFER HIS ACCOUNTS TO BE AUDITED.
whether its presumptive income or any other income.
precautionary measure.
its not mandatory.
44 Reply
On 04 September 2019 at 17:32
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 04 September 2019
Once again read the Query bad Reply based on the Query... Don't be mix or over read or whole act apply to the SINGLE QUERY...

Or don't be test or confuse Querist...
463 Reply
On 04 September 2019 at 17:34
User Avatar

Profession Business
28207 Points Posted on 04 September 2019
Raja eithervu are not comprehending the reasons for my answer.Dont get hyper.
It is not mandatory as per the query.
Be sensible at least.
The audited report will be required everywhere.
I will prefer that.
44 Reply
On 04 September 2019 at 17:48
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 04 September 2019
Okay.... With sensible...

The said points not required the query. In case You have any doubt please read sec 44ab & 44ad with Query...
463 Reply
On 04 September 2019 at 17:50
User Avatar

Profession Business
28207 Points Posted on 04 September 2019
Its your opinion dear.
dont get hyper.
If any client approaches I will get his books of accounts audited.
44 Reply
On 04 September 2019 at 17:55
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 04 September 2019
(If any client approaches I will get his books of accounts audited.)

okay dear.... enjoy the same.
463 Reply
On 04 September 2019 at 17:57
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 04 September 2019
Originally posted by : sabyasachi mukherjee
Its your opinion dear.

 

Bro... This is not opinion bro... This is rule/Act...

463 Reply
On 04 September 2019 at 18:07
User Avatar

Profession Business
28207 Points Posted on 04 September 2019
I also follow Act but, somehow you should maintain some professional ethis and save your skin.
44 Reply
On 04 September 2019 at 18:25


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details