Loan from return itr -4s

This query is : Resolved

Guest

Guest (Querist)

22 October 2013 Hi

as we all know we are not required to give BS and P&L along with return ITR 4s

So I want to know if I pay tax as per loan requirement through ITR -4s then

Kindly explain me
ITR-4s can serve my purpose or
ITR-4 is must for loan

CA Rinkal

CA Rinkal (Expert)
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22 October 2013 my dear friend

your told that we are not required to give BS and P&L but it is compulsory to prepared.

as without the preparation of balance sheet and profit and loss how can you arrived gross profit and net loss.

sundry debtors, creditors and closing sach on hand...

so for the return purpose it is not required but without preparation of the same you can not justify your closing balances..

and for loan your purposes also. they must ask for your books of account..

Guest

Guest (Querist)

23 October 2013 Thanks Rinkal

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