An individual is starting a proprietary business, never filled ITR as income is under 2.5L and doesn't have PAN & Bank A/c both Savings & Current A/c.
Applied and received his PAN in Feb'22, GSTIN in Jul'22 & Bank A/c in Jul'22
Now the question is:-
1) How many preceding year he can file ITR- 2 or 3 years?
2) Can he show/adjust his previous years income in ITR Capital as/in Cash?
3) Can he receive Cash gifts from his immediate relatives like Mother, Father, Brother, Sister, Wife etc. under 2L as none of them is having PAN & Bank A/c.
CAclubindia
