ITR
Debtors, creditors and stock fields in ITR-4
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Facts
ITR-4 has financial particulars that are mandatory for presumptive filers: sundry creditors, inventory, sundry debtors, bank balance and cash in hand as on 31 March. You need reasonable figures even without full books.
Provisions and law
- Sec 44AD (now Sec 58)Presumptive business income at 6% of digital and 8% of other receipts for eligible businesses
- ITR-4 form for AY 2026-27, financial particularsMandatory fields for business filers
Analysis
Use the bank statement for the 31 March balance, count stock on hand at cost, list customers who owe you and suppliers you owe. If stock was ₹6,00,000, debtors ₹2,50,000, creditors ₹3,00,000 and cash ₹40,000, enter those. Wildly unrealistic numbers, like cash in hand of ₹25 lakh, can attract questions. Keep a simple year end sheet as working.
Conclusion
- Take the 31 March bank balance from the statement
- Count stock at cost and list debtors and creditors
- Write down cash in hand on 31 March
- Enter the figures and keep the working sheet
A Savvy can do this for you
Presumptive income tax return, ITR-4 (Sugam), Sec 58 (old 44AD, 44ADA, 44AE)
₹1,999
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