Hello Sir/Mam
One person have CC limit of 10 lakh. Bank demands sales in P&L is five times than CC. The Actual sales is about 25 lakhs.
I have two question
Is annual accounts given in CC renewal are real or hypothication.
When we file ITR of such person we need to show hypothicated data which has been shared with bank of real turnover ?
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Balance Sheets for CC Renewal are real
Replies (2)
Quick Summary
Both the data should be real. Only future year data given to Banks are projected on some estimations.
Audited Balance sheet need to be submitted.
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