E.K.Raghavendra (Practicing Chartered Accountant) (134 Points)
14 March 2016
CA.Vivek Solanki
(Executive-Risk Advisory & Management Assurance)
(236 Points)
Replied 14 March 2016
Dear Raghvendraji,
If you are filling return on presumptive basis than that case you dont have to put whole balancesheet and profit and loss account.However, you have to put certain information like cash balances, Debtors Balance, Etc.
E.K.Raghavendra
(Practicing Chartered Accountant)
(134 Points)
Replied 14 March 2016
CA.Vivek Solanki
(Executive-Risk Advisory & Management Assurance)
(236 Points)
Replied 23 March 2016
Dear Raghvendra Ji,
ITR-4S(presumtive business) is applicable for individual and HUF not for partnership firm, hence you have to use ITR-5 for partnership firm return.
CAclubindia
