Cash book in case of 44 ad?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2011 Dear experts,

if we opt for 44AD, what cash bal should we show in ITR4 or ITR 4S?
Bcos iam maintaining both daybook & ledgers. The cash bal. as per cash book & cash as per B/S (prepared in presumptive basis)differs.
as my net profit is 15% iam having more cash in cash book. shall i continue to enjoy that high cash bal while i pay tax only for 8%
pls clarify.

CA Vibhash Kumar Sah

CA Vibhash Kumar Sah (Expert)
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29 July 2011 presumptive basis is for calculating taxable profit. And balances of ledgers are nothing to do this calculation. Show the balance of debtors, creditors & Stock in Trade & Cash Baalnce as actual.

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