Devender (Accountant) (45 Points)
05 July 2018
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 05 July 2018
The net income/ profit can be shown directly under income from other source as Hire Charges received (ITR-1). Or you can show it as business income and upload P&L and balance sheet (ITR-3/ITR-4) .
Devender
(Accountant)
(45 Points)
Replied 05 July 2018
sir suppose his bank statement shows 400000 but his income upto 700000 that time in IT Filling total amount is show or only bank statement as income source
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 05 July 2018
You can show the total income of 7,00,000 in ITR. Its not necessary that only the amount received in bank has to be offered as income
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