Dear sir I am salaried person in Private limited company my gross salary approx 2.20 lac yearly only and other income from other sources approx 80 thousand yearly and we have loan from my employer 2.5 lac in cash & same deposit in bank if i have file ITR 1 then where show the loan
thanks
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Loan from Employer in Cash
Replies (5)
There is no provision to declare loans in ITR1; at the same time it is not mandatory.
Loan is not part of your income.. just show your salary and other income in ITR 1.
but sir whole amount deposit in bank account if income tax objection then
its deductable from your salary
loan is not mention in itr form
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