banner_ad

Other Income for Salaried person

Others 275 views 3 replies
Hi frnds, I am a salaried person, My Net salary per month Rs.55,000 get received in my bank account (Savings a/c). And i am received amount Rs.50,000 per month from my friend (some personal purpose i.e. Loan repayment) in same bank account. Now in this situation Can I have declared income in ITR form, my Salary income only? Will there be face any problem of avoiding if other income?
Replies (3)
In Your Issue there is two situations:-
1. Salary Income
2. Amount received as loan repayment
in first situation u just have to show your salary income in your ITR alongwith Interest earned by you on your bank deposits.
In Second Situation u don't have to show this amount as your income if u have given loan to your friend by Cheque or any other online mode.

Thank You
You must show salary and other income in Itr and no require to show the loan transactions in income tax return and if you have interest income from loan . you can shown in income tax return
Thank u so much sir for valuable reply. Is there any other way not to show that income in ITR?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details