02 September 2010
I am paultry farming business from 10 yrs. From this year I am starting IT Return filing but how I can Show my capital from 1st year to till this year. Is there is requirement to show all the year data or start from current year ? I have not done any records before, I am just doing from this year.
02 September 2010
It all depends on the quantum of capital to be introduced by you in the business. The onus to prove the source of the capital introduced by you is upon you. If you can substatantiate the capital introduced by you without preparing the details for all these 10 years then you need not prepare the data for the previous 10 years.
CAclubindia
