Dear experts,
please guide me. m
My client doing profession of hobbies classes and last year taken huge unsecured loan for marriage purpose and huge withdraw for tuition fees paid of his son. So his capital balance show in asset side. So please tell me how to show capital figures in Itr-4. and negative capital balance is acceptable in it act. I am filling itr under presumptive scheme sec 44ADA
Are you adjusting the unsecured loan in capital A/c. if yes don't do that. increase liability for that..... if capital is in negative by short amount like 1-2 lac. show that he has introduced fresh capital
CAclubindia
