Do i need to show loan amount in itr?

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Developer
135 Points Joined February 2018

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?

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On 19 March 2018 at 07:15 Report
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CA Student
1683 Points Joined September 2012
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 .
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On 19 March 2018 at 07:49
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Developer
135 Points Joined February 2018

Thank you Rahul Prasad-ji,

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

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On 19 March 2018 at 07:53
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CA Student
1683 Points Joined September 2012
Ya it's not wrong if you file ITR 1. ITR 2 can also suitable for you.
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On 19 March 2018 at 08:21


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