Comment on Taxation Simplified

Makarand Kokane commented on 12 Mar 2014, 11:14 AM

Thanks a lot Nithin for your reply!
Now everything falls in place.
* Below I’m detailing the fields to populate in ITR 4 as that might benefit some reader.
* I need to use ITR 4 (and cannot use ITR 4S) because I have STCG from debt funds.
* ITR 4 excel is of AY 2013-14. Same needs to be tried out later when one for 14-15 is available.
Part A: P&L: 1. Sales: 1,00,000
Part A: P&L: 6. Purchases: 40,000
Part A: P&L: 8.e. Service tax: 1000
Part A: P&L: 8.g. Any other taxes: 6000
Part A: P&L: 23. Commissions: 2000

Schedule BP: A.1. PBT: 51,000 (Auto-populated)
Schedule BP: A.4. Sub-amount of BP.1 under 44AD: 51,000
Schedule BP: A.33.1. section 44AD: 51,000
Schedule BP: D. Profits & Gains: 51,000 (Auto-computed)

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