Information is required to be filled under the following sections:
- Balance sheet
- Profit & loss account
- Business & profession head
- Nature of business
1. Steps
to be followed: For Balance sheet
In case of 44 AD / AE OR ADA following columns as highlighted in the screen shot below are required to be filled in the Balance Sheet.
Note : Mandatory fields for filing ITR-4
2. Steps to be followed: For Profit & Loss account
Note: There is no option provided to enter details in the P&L by the department in ITR 4. Hence, there is no requirement to feed the P&L in the software.
3. Steps to be followed: For Business and profession head
Go into Transactions → Business and Profession Head → select point 6 /7 /8 according to your Business .
Note: Do not enter any data in point 1 (Add/ Modify) tab
4. Steps to be followed: For Nature of business
Go into transactions → Filling information → Nature of business
Here, the nature of business has to be selected according to your presumptive section, either falling under 44 AD /AE or ADA
In the Nature of business table, following mandatory points are required to be entered:
- Code
- Description
- Trade Name
- List
Note: If you are facing any difficulties to select the nature of business then you can access the
help file given above for the nature of business table in the name of "Nature of business help".
Related Articles
ZenIT || Co-Operative Society ITR Selection Procedure
ITR Selection procedure in case of Co - Operative Society. The Income Tax Auditor has provided the option to select either ITR-5 or ITR-7 in case the client's status is a Co-operative Society. Below are specific checkpoints where the user can ...
Income Tax || Return Filing Status
To check the Return Filing Status, follow the elaborated procedure below: Begin by accessing the "Transaction" menu. Within the menu, locate and select the option labeled "Return Filing Status". Once you've entered the "Return Filing Status" section, ...
ZenIT || ITR-U Rectification process
What is the ITR-U and How to File: Go to The Process: Click Here For Filing the ITR-U Case 1: User filed the original return and then filed ITR U or wants to submit Rectification. Case 2: User filed only ITR U and then submitting Rectification. ...
Income Tax || Change ITR form in Co-operative Society
In the context of a CO-OPERATIVE SOCIETY, users have the flexibility to choose between two filing options using the software: ITR7 or ITR5. ITR 5 is designed for entities such as firms, LLPs, AOP, BOI, artificial juridical persons specified in ...
Guidance for Filing ITR-7 for Section 11 (Trust Registered u/s 12A/12AA)
Guidance for Filing ITR-7 for Section 11 (Trust Registered u/s 12A/12AA) Charitable Institutions which are registered under section 12A/12AA of the Act can claim exemptions under section 11 of the Act when conditions are become fulfilled. While ...