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FORM 704 INSTRUCTIONS 1. Please read these instructions carefully before filling up the report. 2. No additional enclosure unless prescribed or unless it is essential for furnishing the information

How to fill out 1 form 704 part-i

1. To fill out Form 704 Part-I, start by downloading the form from the official website or obtaining a physical copy.
2. Carefully read the instructions provided on the form itself or the accompanying guidelines to understand the purpose and requirements of Form 704 Part-I.
3. Gather all the necessary information and documents before starting to fill out the form. This may include personal details, financial information, and any other specific data required.
4. Begin by entering your personal information accurately in the designated fields. This may include your name, address, contact information, and any other relevant details as specified.
5. Move on to the financial section of the form and provide the requested information, such as income details, assets, liabilities, and any other financial data required.
6. Double-check all the information entered to ensure accuracy and completeness. Any errors or incorrect information can lead to complications or delays.
7. Sign and date the form in the appropriate sections to certify the accuracy of the information provided.
8. Once you have filled out the form completely, review it once again to ensure you have not missed any required fields or made any mistakes.
9. Make a copy of the completed form for your records and submit the original form as per the instructions provided. This may involve mailing it to the designated address or submitting it electronically, depending on the specific requirements.

Who needs Form 704 Part-I?

1. Individuals or entities involved in certain financial transactions, such as buying or selling property or assets, may require filling out Form 704 Part-I.
2. Form 704 Part-I is often required by government agencies or tax authorities to monitor and regulate financial transactions and assess any applicable taxes or obligations.
3. The specific criteria and circumstances under which Form 704 Part-I is needed may vary from jurisdiction to jurisdiction, so it is essential to consult relevant guidelines or seek professional advice to determine if it is necessary in your particular situation.

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What is 1 form 704 part-i?

1 form 704 part-i is the tax return form for reporting income from business or profession in India.

Who is required to file 1 form 704 part-i?

Individuals and entities carrying on business or profession in India are required to file 1 form 704 part-i.

How to fill out 1 form 704 part-i?

1 form 704 part-i can be filled out online on the income tax department website or offline by submitting a physical copy to the tax office.

What is the purpose of 1 form 704 part-i?

The purpose of 1 form 704 part-i is to declare income, expenses, and tax liability related to business or profession for a particular financial year.

What information must be reported on 1 form 704 part-i?

Information such as gross receipts, expenses, profits, losses, and tax payments related to business or profession must be reported on 1 form 704 part-i.