Filing ITR 4s and still preparing p&l a/c and balance sheet?

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Can we file ITR 4s and still prepare P&L A/C and Balance Sheet?

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Yes, its always better for our own records. But no space to fill the same in ITR 4S.

ITR 4s has no icons for P&l and balance sheet .

But its always safe and must for your own records. You must always prepare them.

Can we show income more than 8% in ITR 4s? 

Also if we are preparing P&L A/C and Balance Sheet,

does the income shown in 4s and Profit under P&L A/C has to match?

If you are filling ITR 4S than it is not mandatory to prepare and present your balance sheet to the Income tax department .

It is basically a retrun to fill your income if your gross receipts during the year doesn't exceeds Rs 10000000 and you are showing your profit equals to or more than 8%.

Lastly yes you can show more than 8% of profit in your ITR-4S 

 

and if you are preparing p/l ac than it is necessary that your profit must be match with the profit shown in ITR

If you are filling ITR 4S than it is not mandatory to prepare and present your balance sheet to the Income tax department .

It is basically a retrun to fill your income if your gross receipts during the year doesn't exceeds Rs 10000000 and you are showing your profit equals to or more than 8%.

Lastly yes you can show more than 8% of profit in your ITR-4S 

 

and if you are preparing p/l ac than it is necessary that your profit must be match with the profit shown in ITR

You may show 8% or more of the Gross receipts in the ITR4s as per sec 44AD.
For your own books of accounts you can complete set of financial statements with the same profit as shown in Itr4s

Yes you can. Tax treatment and accounting are different. You can still have your books of accounts for the smooth running of business and to know the financial outcome of the business. 

books of accounts are also required handy when accounts are demanded by the assessing officer . it's better to maintained book of account. moreover as per income tax act if the gross total income is more than 120 lakhs then assessee is required to maintain book of account
otherwise penalty action may be imposed by the jurisdictional officer


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