Issue in Filling Income tax return

Just reduce the Purchases by that amount. It does not matter whether its from opening stock or current purchases. You can show it as net purchases.

Originally posted by : CA.Tarun Maheshwari
	Just reduce the Purchases by that amount. It does not matter whether its from opening stock or current purchases. You can show it as net purchases.

But the Purchases will be negative and the ITR does not accept negative values for purchases.

In that case, better option is that you show it as net consumption (Opening + purchase-Purchase return-Closing stock). Than it will be entered easily.

Someone told me to enter the value in other expenses but it is not an expense.

in FORM 4 THERE IS NO FIELD TO FILL UP NET CONSUMPTION. HERE OPENING STOCK, PURCHASE AND CLOSING STOCK IS TO FILLED.

NEGATIVE PURCAHSE , ITR IS NOT TAKEN.

HENCE IT IS BETTER TO INCLUDE PURCHASE RETURN IN SALES, BECASUE PURCHASE RETURN IS MADE BY ISSUING OF SALE INVOICE , YOU CAN SHOW IT SALES AS SUCH.

THIS IS ONLY WAY BY WHICH YOU CAN FILL YOUR DATA AND GET CORRECT RESULTS.

I guess this could be done. I do not see any other way of entering the data.