Respected Seniors
Is it compulsory to disclosed SUNDRY DEBTORS, SUNDRY CREDITORS, CASH & BANK BALANCE DURING FILLING ITR 4S UNDER Section 44AD of assee on Income Tax Return.
Please confirm me
ranjitkarmakar (service) (304 Points)
02 February 2013Respected Seniors
Is it compulsory to disclosed SUNDRY DEBTORS, SUNDRY CREDITORS, CASH & BANK BALANCE DURING FILLING ITR 4S UNDER Section 44AD of assee on Income Tax Return.
Please confirm me
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 02 February 2013
YES IF YOU CANT FILL ANY DETAIL THE RETURN CANT FILED
Pakshal Shah
(Practicing Chartered Accountant)
(271 Points)
Replied 02 February 2013
ranjitkarmakar
(service)
(304 Points)
Replied 02 February 2013
Thanks Pakshal Jee,
Thanks for your reply, Are you sure during File ITR 4S (44AD) only I have to disclose my total turnover and Profit 8% of turnover only. No need to disclose Sundry Debtors, Creditors and cash balance
vishwanath
( )
(46 Points)
Replied 02 February 2013
there is no need to disclose details regarding sundry creditors cash etc u have to just mention the gross income figure and profit @ 8% and file the return accordingly
manoj
(student)
(5205 Points)
Replied 03 February 2013
if u r mentioning bank account than bank balance is mandatory creditors debitors not required
Triptraj Singh Dhanzal
(T.S. Dhanzal "Advocate")
(22 Points)
Replied 04 February 2013
IF SUNDRY DEBTORS, SUNDRY CREDITORS AND CASH BALANCE ARE NOT MENTIONED DURING FILLING ITR 4S IT IS CONSIDERED THAT THEIR VALUE IS NIL.
Palak Nandi
(Article)
(87 Points)
Replied 07 February 2013
Agreed.. There is no need to quote those 4 details in 44AD return.
srikumar
(audit staff)
(1203 Points)
Replied 12 October 2013
no, only fill total turnover at 8% for itr 4s its enough
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
