28 July 2011
Dear Sir, My son has proprietorship firm and he is filing first return of his life.in this very first year he has made net loss of Rs. 20000.00.His C.A.has suggested him form "ITR-V".Going through I.Tax's website there are form number 1,2,3,4,5,etc.but not form "ITR-V",so here shoud we count V=5?please help me and give some knowledge about all this form.One more question "At the time of filing of my return online,should i have to submit the figures of complete balance sheet or only net figure of net profit/loss?please note that turnover of first year is only 20lacs,and net loss is 20000.00. Thanking You!
CAclubindia
