Balance sheet profit & loss account
This query is : Resolved
29 May 2018
Dear Experts, My client is a co Founder in Pvt Ltd Co and investing 20% Equity Shares. He is drawing salary from the above company. Recently he plan to purchase house with Bank Loans and submitted his IT Returns. Bank people asks to submit Statement of Income, Balance Sheet, profit & Loss Account for the past 3 Years. Here my query is he is drawing salary for that I filed only ITR1 No Balance Sheet & Profit & Loss Account. Is it mandatory to Prepare & submit the Balance Sheet & Profit & Loss Account. If yes how please guide me in this regard. Thanks in Advance.
29 May 2018
As per my view ITR 1 is not applicable for the above said way...
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