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Respected Sir/ Madam,

I face a problem while filling an E-return of ITR 4 (2015-16) of a HUF in “NO ACCOUNT CASE” of Part A- P&L. I am confused about Gross Receipts (item no. 53a), Gross Profit (item no. 53b), Expenses (item no. 53c) and Net Profit (item no. 53d) in “NO ACCOUNT CASE”. If I put value in Gross Receipts, no impact/change is being found in Net profit (item no. 53d) & any other parts. Whenever I put value in Gross Profit & Expenses, Net profit (items no. 53d) is being calculated automatically and same is transferred to “Profit Before Tax as per P&L a/c “of SCHEDULE BP. Also there is a provision to deduct Salary Income, House Property Income, Capital Gain & Other Sources’ income from “Profit Before Tax as per P&L a/c” in order to compute Income from Business/ Profession in SCHEDULE BP. So what should be the Gross receipts & Gross profit in this regard. Please help me & guide me.

I am just giving a small example.

Sales= Rs. 2, 00,000/-,
Income from House Property = Rs. 10,000/-
Income from Other Sources= Rs. 90, 000/-
Purchase Expenses Rs. 80,000/-
Other Expenses Rs. 30,000/-

Respected Sir/ Madam,

I face a problem while filling an E-return of ITR 4 (2015-16) of a HUF in NO ACCOUNT CASE of Part A- P&L. I am confused about Gross Receipts (item no. 53a), Gross Profit (item no. 53b), Expenses (item no. 53c) and Net Profit (item no. 53d) in NO ACCOUNT CASE. If I put value in Gross Receipts, no impact/change is being found in Net profit (item no. 53d) & any other parts. Whenever I put value in Gross Profit & Expenses, Net profit (items no. 53d) is being calculated automatically and same is transferred to Profit Before Tax as per P&L a/c of SCHEDULE BP. Also there is a provision to deduct Salary Income, House Property Income, Capital Gain & Other Sources income from Profit Before Tax as per P&L a/c in order to compute Income from Business/ Profession in SCHEDULE BP. So what should be the Gross receipts & Gross profit in this regard. Please help me & guide me.

I am just giving a small example.

Sales= Rs. 2, 00,000/-,

Income from House Property = Rs. 10,000/-

Income from Other Sources= Rs. 90, 000/-

Purchase Expenses Rs. 80,000/-

Other Expenses Rs. 30,000/-

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