Unsecured loan in itr 4

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I have taken a interest free unsecured loan from my family friend for buying of  house, 3 years back but not showing this amount in  my ITR. Now I want to put the same in my ITR. When I put the same in sl. no 4 of sheet BS then one message has come " Sources of funds should be equal to utilisation of funds". Please advise me that in which column I put thisloan on sl no 5 of same sheet i.e. in miscellaneous expenses not written off or adjusted or deferred tax asset or PL account/accumulated balance. My source of income is home tutions and not maintaing the accounting books.

Regards

Replies (1)

 

Dear, if you are showing unsecured loan in balance sheet, then question arises how you received this loan? in cash or by cheque? whatever it may be you should also increase your cash or bank  whatever it may be...

understood?


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