If some assessee wants to raise loan and he requires the ITR of last two years which he have not filed yet.
now if the assessee files the itr of last two years then
my query is ," will these belated return would enable the assessee to rasie the loan?
or to raise the loan return should be filed within due date specified u/s 139(1)?
and in case if the income is below the limits specified u/s 139(1).
An assessee has to file his/her/its return within assessment year..
but if the assessee wants to raise the loan...whats the remedy available to him..
as the due date has passed now
Due date of filing return and raising loan is not connected. However, sometimes banks/financer refuses to give loan if the time period between returns of two consicutive assessment years are less than 6 months. There is no other requirement to file return within due date to raise loan.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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