itr-4

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Ananta prasad tripathy (Querist)
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30 August 2010 ITR-4 is applicable for INDIVIDUALS and HUFS having income from a proprietory business or profession.As payment of tax in case of an individual is not an expense,but is a personal expense of the individual and it has to be debited to his capital account. But ITR-4 has a schedule of profit and loss account, which has a column of provision for tax .So how we fill that column as no provision for tax account is maintained in individual case?

CA SMR

CA SMR (Expert)
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31 August 2010 There is no need to fill up this column of provision for taxation.In the excel utility tool for ITR-4,the income tax gets calculated in the sheet PArt B-TI TTI

mohinder kansal

mohinder kansal (Expert)
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02 September 2010 FIGURES SHOULD BE FILLED UP ACCORDING TO THE P L AS PREPARED BY THE PROP. IF PROVISION FOR ITAX IS MADE THEN FILL THE COLUMN OTHERWISE MAY BE LEFT BLANK. THERE IS NO PROHIBITION TO MAKE PROVISION OF I TAX IN PROP. CONCERN.

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