Detail of loan in itr


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
31 March 2016 Dear all,
I am running propriatory firm and for personal purpose i have taken the loan Rs. 5 Lakh from my relative.. please confirm will i have to show this pursonal loan in ITR or not....

Regard
Kapil Gupta

31 March 2016 Balance Sheet of Business and Personal Should be separate. If loan taken for personal purpose then it should disclose in personal balance-sheet and in ITR generally you have to disclose your business balance-sheet (if not covered under tax audit).

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
31 March 2016 Sir i think in ITR we Need to show business balance and income sourses not personal loan & balance sheet


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details