Regarding filing of i.t.return

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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2011 Hello ! I am Proprietor of two firms and having a Business Income from two firms . I have to file my I.T.Return for the F.Y. 2010-11, then it is necessary to file Profit & Loss A/c & Balance Sheet of both the firms while filing a I.T.Return. ?

sadashiv Rupchand Gaikwad

sadashiv Rupchand Gaikwad (Expert)
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13 September 2011 Make consolidate financial Statements, In the Profit & Loss A/c total amounts come from both Profit & Loss A/c.Arrange Expenditure Head as per ITR4. Prepare merged Balance Sheet From as per Schedule in IT4.If your business covers under 44AD you need not to tabulate all figures in the Prescribed.Total turnover is less than 60 Lacs you may use ITR4S.Not required to fill all column if your business is a not presumtive system,Profit less than 8%.If your business is specified profession, you must to fill all column in ITR4.