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Do i need to show loan amount in itr?

ITR 483 views 3 replies

Hello, I file ITR every year. My income is from house rent received and Interest on Fixed Deposites. I show this amounts in ITR.

If my uncle (mother's brother) gives me Rs. 1,00,000/- on loan, then should I need to mention this amount anywhere in ITR form?

Replies (3)
not required to show the loan untill you fill balance sheet in ITR 3. in your case not required however you can make balance sheet of capital account of your for manual reference .

Thank you Rahul Prasad-ji,

So everytime I fill ITR-1, so this time also I will fill form ITR-1. Am I correct?

Ya it's not wrong if you file ITR 1. ITR 2 can also suitable for you.


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