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AGRI LOAN
there is a small amount of agricultural loan taken and there is no such income from agricultural buisness, and he is working as paid employee . so can he file ITR without showing the same loan and file ITR only with salary and other income.
Replies (4)
Even if you declare loan amount (or agricultural income, if any) it will not change taxable values !!!
So, why all this hotchpotch....
where is to show loan, AL schedule , and income from salary and intt only, can I go for it sir
As such ITR 1 or 2 will be applicable, (depending upon agri activities) where there is no option to file Balance Sheet and as such loan declaration not applicable......... Schedule AL is applicable only if aggregate income exceed 50 lakhs, so relax!!
thank you sir
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