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

Follow us
add to google news


Answer Query



Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details