If an assessee having is carrying on two business, then how the P & L will be entered in ITR-4? Should we sum up the figures of both business, as ITR is showing only 1 P & L A/c?
7 Replies
MD. RAFI
(Manager Accounts (future CA))
(670 Points)
Replied 09 January 2013
Yes, you have put the consolidated figures in BS & PL, you can show different trade name and code in nature of business sheet.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 09 January 2013
AGREED WITH MD. RFI
PARMITA MAZUMDER
(CA- Practice)
(386 Points)
Replied 09 January 2013
You have fill aggregate amount BS & PL and have to show different codes and trade names.
CA Sourabh Goenka
(Chartered Accountant)
(249 Points)
Replied 09 January 2013
It's simple.. for one pan number only one itr can be filled. whatever income is on that pan number should be included in that itr..
CA Gopal Somani
(Associate Consultant at Infosys Ltd.)
(464 Points)
Replied 09 January 2013
Yes..ITR 4 Return is filed for individual not for business, so if assessee has two or more business then consolidated figures are to be provided in return. Details of businesses such as Trade name, Nature, code are to be provided in nature of business para.
Ramanuj
(Accountant.)
(834 Points)
Replied 10 January 2013
YES YOU CAN FILE IN ITR-4, MADE CONSOLITATED BALANCE SHEET & P/L A/C. SHOWN DIFFERENT BUSSINESS CODE.
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