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Expert Exchange Home: Direct Tax Ask a Question
AuthorQuestion Title
S AGRAWAL
BILASPUR
ITR4S

WHETHER it is mandatory to report amount of STOCK debtors and cash in Schedule BP of ITR4S in case
of income u/s 44AD
Replies
CA D.K.Pal
Kolkata
A good question .It is mandatory requirement. The amount of Stock , Debtors, Creditors should be
given on average/ assumption basis.

rahul zalte
pune
if turnover and profit is based on presumption,how can we determined stock,debtors and creditors?

ANAND PRAKASH AGARWAK
JODHPUR
IF THESE FIGURES ARE NOT FILLED UP, RETURN WILL BE TREATED AS DEFECTIVE AND NOTICE U/S 139(9) WILL
BE ISSUED.

ANKUR AGARWAL
LUCKNOW
Since 44AD is based on presumptions,still the amount of stock,debtor & creditors asked in the
ITR-4S must be reported at an appropriate amount that is reasonable.


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