An individual having income from his proprietor business "General commission Agents"
Assessee having Net profit of Rs.2,90,000.
However assesee is not liable to tax as he has 23000 80C deduction & rebate u/s 87A.
Where to show such amount of profit (utilised by assesse for his personal use) in ITR
Options : In P&L Alone
Under Provision for tax and appropriation : Amount available for appropriation->Transfer to reserves
Option 2 : In both P&L & Balance sheet as reserve
Is there any option to show drawings of proprietor in ITR.
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