Return for A.Y. 07-08
This query is : Resolved
Sandeep Keswani
(Querist)
24 December 2008
One of my client wants to file his Return of Income for the A.Y. 07-08. During the relevant P.Y. 06-07, he earned Salary Income and Income from Other Sources from April 06 to September 06. From October onwards, he started a proprietary business. Prior to A.Y. 07-08, he has never filed his return of income (this will be his 1st return). As no return is filed before this, how do I show the source of the initial Capital introduced by the proprietor ?? If I show Salary income as well as Business income in the return, will it suffice the cause to prove the source of capital introduced by the proprietor ??
C A GROUP COACHING
(Expert)
24 December 2008
YES IT SHOULD BE OK, BUT KEEPING IN VIEW THE AGE OF YOUR CLIENT YOU CAN ALSO BUILD UP SOME CAPITAL BASE FOR YOUR CLIENT
CHANDRAKANT AMBANI
BOMBAY
9819408963 / 9821240674
CHANDRAKANT AMBANI
BOMBAY
9819408963 / 9821240674
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