Specimen copy of filled ITR-4 form (P/L from ST, ID and FO)

vikaspanwar · #1 28th July 2010, 03:36 PM

If anybody is having the specimen copy of filled ITR4 form or details of filling ITR-4. Please upload to help the people file their return.
For a salaried person having P/L from short term trading (Avg. 4-10 days holding period, so treated as business as per my knowledge), speculative P/L and Non speculative (as Future and Option) P/L. Also covering the possible deductions which can be made by salaried person. As Brokerage, Service tax, STT, internet exp etc.

Thanks
Vikas Panwar

vikaspanwar · #2 31st July 2010, 01:17 PM

Filled Sample Of ITR4 (a person doing trading, NOTE: Avg Short term holding is < one month, So treated STCG as Business Income)
(Disclaimer: It is based upon my knowledge only and not a standard procedure for filling. I am neither a CA nor a Tax Consultant, So use it at your own risk. Better to consult your CA.)
1 nature of business
202 retail trading

PART-BS: OF ITR-4

6 In a case where regular books of account of business or profession are not maintained -furnish the following information as on 31st day of March, 2010, in respect of business or profession)
a Amount of total sundry debtors 6a 12000 FROM CLIENT LEDGER
b Amount of total sundry creditors 6b 10000 FROM CLIENT LEDGER
c Amount of total stock-in-trade 6c 100 TOTAL AMOUNT OF STOCK/FO ON 31ST MAR-10
d Amount of the cash balance 6d 500 FROM CLIENT LEDGER

PART-PL: OF ITR-4

In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2009-10 in respect of business or profession
a Gross receipts 51a 10000.00 TURNOVER OF DERIVATIVES (P+L) AND FOR CASH ON SALE SIDE
b Gross profit 51b -1000 FUT+TRADING+INTRADAY
c Expenses 51c 500 STAMP+STT+OTHER FROM CONTRACT NOTE+NSDL+STAMP ETC FROM LEDGER
d Net profit 51d -1500

Schedule-BP:
Mention P/L from Intraday
A 2 Net profit or loss from speculative business included in 1 2 100

Fill STCG , House Property Income etc.

FILLED CFL :
Check the amount of losses/ set off
Fill if carrying prev yr losses.

FILLED CYLA AND BFLA :
Check the amount after setoff.

Schedule EI:
Fill your interest / Dividend income……

If employed fill details of Form 16
TDS,etc
Deduction, Saving
Salary detail

Now press calculate Tax on PartB

Check and generate xml
Load online

NOTE: Seniors/Experts please correct me on the wrong points.
Thanks and regards

vikaspanwar · #3 31st July 2010, 01:23 PM

Here is the attachment in *.xls file.
Regards
Vikas Panwar

hills_5000 · #4 31st July 2010, 08:21 PM

OK understood most of it. Some clarifications required though.

1...under nature of business you have written "202 retail trading" ... that is what all of us should also write??

2... total sundry debtors /creditors ...is the value to be written from the ledger as on 31 march ..right ?

3...stock in trade ...is the open position as on 31 march 2010 ??

4...Part PL of ITR... in Gross receipts ....51a... i have to write the TURNOVER VALUE ??? Which means the contract value of a F&O contract ? ..if yes then where does one get total turnover for the FY 10-11?

if no then pls do explain point 4.

5.. after this is expenses ... where do i get the value of all expenses ?.. do i have to dig out each contract note and total it up?? anywhere else ?

regards

date extended to 04 Aug , so waiting for an early reply.

Quote:

Originally Posted by vikaspanwar

Here is the attachment in *.xls file.
Regards
Vikas Panwar

vikaspanwar · #5 31st July 2010, 09:07 PM

I am also filling first time, Plz consult your CA.
1... IF U HAVE BUSINESS INCOME.

2... THAT SHOULD BE.

3... YES THAT SHOULD BE.

4...TUROVER FOR FO AND INTRA DAY - (PROFIT+LOSS) FOR CASH = TOTAL SALE.

5.. LOOK CLIENT LEDGER YOU MAY HAVE NSDL, STAMP DUTY, SOFTWARE ETC..CHARGES.

VIKAS

deepakji · #6 19th June 2011, 07:26 PM

Filling up ITR4 FORM using Incometax Excell Utility for Day trading Profits and Losses.

Begin with Part Part A-P & L Item 51 No account Case

1.Day trading Profit in Equity(Speculation): 9445
2.Day trading Loss in Equity(Speculation): 12048
3.Therefore Fill up Gross Receipts ITEM 51 a as 1+ 2 :21493
4.Fill up Gross profit b

9445-12048) : -2603
5.STT STAMP ETC not deducted as expenses because I am not sure If somebody can clarify.)
6. Excell calculates Net profit Item 51 d : -2603

Now go to Schedule BP Computation of income from Business or profession

7. Schedule BP Item A 1 Profit before tax gets automatically filled up as -2603
6. Fill up Item A 2 in schedule BP as -2603 Since there is a loss.

Can you please confirm if the above is correct
Thanking you

blackpearl · #7 20th June 2011, 06:53 PM

anybody using tally for share trade accounting? Is it worth buying tally to keep share trading accounts.. Any help in how it can be done is welcome. Thanks in advance

mrgandeev · #8 23rd June 2011, 10:36 PM

I have a query,
Suppose I bought and sold 3 NIFTY futures in year. With profit and loss of
+3000
-2000
-2000

what should be the entries in ITR4 for Gross receipts and gross profit ?

record · #9 19th July 2011, 04:47 PM

Hi vikaspanwar,
I am salaried person, Also paying Housing loan EMI(availing housing loan facility), Also doing trading both intraday and delivery(some losses happen during FY 2010-11).

Do I need to submit ITR2 or ITR4S (SUGAM) or ITR4 form?

Thanks in advance

kiranjoseph · #10 28th July 2011, 07:26 PM

Quote:

Originally Posted by mrgandeev

I have a query,
Suppose I bought and sold 3 NIFTY futures in year. With profit and loss of
+3000
-2000
-2000

what should be the entries in ITR4 for Gross receipts and gross profit ?

Hi, did you get any definitive answer for this?

The Following User Says Thank You to vikaspanwar For This Useful Post:
hills_5000 (1st August 2010)

The Following User Says Thank You to blackpearl For This Useful Post:
VJAY (20th June 2011)