Balance sheet and P & L of ITR-4 of a sole proprietor

Mr. AB (Self-employed) (86 Points)

28 August 2015  

Hi.

These questions are regarding the Balance Sheet and P & L of ITR-4 of a sole proprietor.

In Balance Sheet (under Application of Funds):
1. What is "Gross: Block" of fixed assets? Is this the "written down value on the first day of previous year" plus the new additions made in the previous year? Or, is it all the total fixed-assets that are added since the beginning of the books?
2. Can we add fixed-assets that are not related to the business but owned by the proprietor?
3. What is "Capital work-in-progress"? Can we skip it, if it's not applicable?
4. Where should we input my short-term business related credit-card liability? Should it be in "Sundry Creditors"?
5. What is "Profit and loss account/ Accumulated balance"?

In P & L (under PROVISIONS FOR TAX AND APPROPRIATIONS):
6. What is "Balance brought forward from previous year"?
7. What is "Balance carried to balance sheet in proprietor's account"?

Thank you in advance!