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Filed income as loss
A pure Commission business where the income is 4 lakhs from Commission but The bank od interest was 4.8 lakhs so we filed the IT return showing 80 thousand rupees loss is there a chance of getting called for scrutiny
Replies (2)
Depends upon any AIR reporting, but otherwise not under any scrutiny parametes. Audit report may be called for.
Keep Mind your OB amount must be use in your Business
But I realise in Commission base businees no need to take OD
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