Return For interest income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2011
a person doing the business of finance money to local persons at monthly interest of 2%. But it is not shown on the records.
He earned Rs. 250000 during year. Now he want to show it as white money and pay tax to department.
Can he file income tax return for it . He has no proper record of such income.
He earned Rs. 250000 during year. Now he want to show it as white money and pay tax to department.
Can he file income tax return for it . He has no proper record of such income.
04 July 2011
GET PAN 1st,and get in touch with Local CA with all bank records and calculation of interest earned with details of borrowers,
he will help you to file the return.
he will help you to file the return.
05 July 2011
It is very difficult. If you show loans to the persons then they should also be in a position to accept that they have taken the loan.
It is better you hire a Chartered Accountant and get your things planned on payment of his fees. I think your problem can be solved.
It is better you hire a Chartered Accountant and get your things planned on payment of his fees. I think your problem can be solved.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- Form 121 & TDS deduction
- Regarding TDS Applicability For Director Remuneration
- Regarding appeal to GSTAT
- Transporter Declaration form
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
