filing of lower income return in current year
This query is : Open
16 June 2016
sir an assesse file itr 4s with income of rs 250000 to 300000 in earlier A.Y s and he take a loan for its bussines and now in current P.Y his business is not doing well nd he is not earned well and he wants to file his itr with lower income earned. please Help me whether it is possible md if possible then what are consequence 's as per income tax nd bank ?
16 June 2016
you have to file return with your actual income, for that income tax deptt no problem, but for bank they make aks the question for lower income.
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