banner_ad

Income tax return

Others 188 views 3 replies
Dear all,
I have income from my business. But due to some reasons I was using my sons bank account for my business transactions in which I have deposited business money also. My query to all of you is that how to present these transactions in my income tax return? Can I claim my sons bank account as my bank account in ITR?
Please suggest.
Thanks in advance.
Replies (3)
Your son's bank account is ok but are bills invoices in your name ? Transfers by you to Son's account to be treated as advance paid and expenses from your son's account will be deducted from the advance amount and the balance will appear in BS.

You can't claim your son's bank account as your bank account in ITR
Thank you Kapadia Pravin sir for your answer. Actually I generally receive small chunks of payment in cash from my customers and this amount I have deposited in my sons bank account and my son is a salaried employee. What's in this scenario ?
The solution is do not mix up transactions.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details