Menu
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
Recent Topics :
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
Related Topics :
CAclubindia
