if a new assesse wants to file three years of returns at a time to build up capital for bank loan purposes ......etc,,,. is it valid
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i t return
Replies (3)
HI DEAR,
PRACTICALLY, INCOME TAX DEPT ACCEPTING IT RETURN FOR MAXIMUM OF 2 YEARS INCLUDING CURRENT PREVIOUS YEAR. SECONDLY, BANK DOESN'T HAVE ANY PROBLEM IN ACCEPTING SUCH A THREE YEARS OF RETURN. BUT THE RETURN FILES FOR 2-3 YEARS ON ONE DAY WOULD BE ADDITIONALY SCRUTINISED FOR AUTHENTICITY OF INCOME FIGURES SPECIFIED IN THOSE RETURN. IT WOULD NOT CREATE ANY PROBLEM, IF U HAVE THE PROPER SUPPORTING FOR THE INCOME GENERATION SPACIALLY BANK ENTRIES IN PASS BOOK, IT WOULD NOT CREATE ANY PROBLEM.
REGARDS,
MANOJ
| Originally posted by : Manoj B. Gavali | ||
 |
HI DEAR, PRACTICALLY, INCOME TAX DEPT ACCEPTING IT RETURN FOR MAXIMUM OF 2 YEARS INCLUDING CURRENT PREVIOUS YEAR. SECONDLY, BANK DOESN'T HAVE ANY PROBLEM IN ACCEPTING SUCH A THREE YEARS OF RETURN. BUT THE RETURN FILES FOR 2-3 YEARS ON ONE DAY WOULD BE ADDITIONALY SCRUTINISED FOR AUTHENTICITY OF INCOME FIGURES SPECIFIED IN THOSE RETURN. IT WOULD NOT CREATE ANY PROBLEM, IF U HAVE THE PROPER SUPPORTING FOR THE INCOME GENERATION SPACIALLY BANK ENTRIES IN PASS BOOK, IT WOULD NOT CREATE ANY PROBLEM. REGARDS, MANOJ |
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Agreed with Mr. MANOJ
Would like to tell you, bank dont accepts returns filled on the same date, they wants returns filled in the gap of 6 months.
;)
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