Loan given to builder is return through transfer
This query is : Resolved
30 April 2015
sir,whather it is an incom.i am liable to pay tax if returns of incom file 44AD but the bank account has been closed. if is necessary to considers in returns of incom in the next year as a sales or as a incom from othersource.in thise case what i can do?
CA PARAS BAFNA
(Expert)
30 April 2015
Loan returned by the builder is not an income. It was your money which has been returned.
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