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switch over of itr
I have filled itr 4 for past 15years now I closed my business and I have income from bank interest and rent.. which itr I have to file and how to switch over from itr3 to itr 1.. is it required to maintain balance sheet after switch over?kindly guide
Replies (3)
if you have closed the business, then no need to maintain further record. But you do need to account for the closing part - how did you dispose of the assets etc.
no need to show balance sheet in itr. simply file itr 1 as per your income
Yes... Good Question from Mr Nikhil Kaushik Ji...
@ Mr. Vishwanathan.,
If You are closed Your business then How to You disclose Your Assets and Liabilities as per Your previous ITR...
That Question from Our Expert Mr. Nikhil Kaushik...
@ Mr. Vishwanathan.,
If You are closed Your business then How to You disclose Your Assets and Liabilities as per Your previous ITR...
That Question from Our Expert Mr. Nikhil Kaushik...
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