Sales turnover show in I.t return for bank loan purposes


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Quick Summary
A small business owner is seeking guidance on how much sales turnover and net profit to declare on their IT returns for FY19-20 to secure a bank loan of Rs. 5 lakhs. The general advice suggests a net profit of at least Rs. 3 lakhs per annum for the last three years. It's recommended to consult a local Chartered Accountant for personalised advice.

18 January 2021 Sir,
A small business person wanted bank loan Rs:5 lacs required.
Question:
A person how much amount sales turnover and net profit show in I.t return in f.y.19-20 for bank loan purposes.

18 January 2021 Contact any local CA for this...

11 November 2021 Profit of at least Rs. 3 lakhs PA for last 3 years ..


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