no account case
Venkatesh Dangeti (CA Final) (881 Points)
17 December 2016Recently ,i have filed Itr4. Filled P&l, but opted no account case for balance sheet. will it become defective??
Venkatesh Dangeti (CA Final) (881 Points)
17 December 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177840 Points)
Replied 17 December 2016
"No account case section in itr 4 is for whom??"
Only for assessees having opted for section 44AD, but having other income not allowed in form ITR 4S; like agricultural income > 5K, capital gains etc.
"i have filed Itr4. Filled P&l, but opted no account case for balance sheet. will it become defective??"
Depends upon eligiblity of sec. 44AD, and other details filled as required in NO ACCOUNT CASE !!!!!!!
Venkatesh Dangeti
(CA Final)
(881 Points)
Replied 18 December 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177840 Points)
Replied 18 December 2016
Yes, Insurance agents are not eligible for Section 44AD. You will have to file P&L acc & BS. ( For your information such mistakes in earlier years were not recognised)