RAMA.S (FREELANCER-BOOK KEEPING & TAX CONSULTING/FILING) (23 Points)
02 July 2019good day,
my client earns income by performing spiritual activities and is about to apply for personal loan based on this income .my query is
1. is it correct to file in ITR3(presumptive income filing) disclosing as (professional income)
2. after filing , is it necessary to get the auditor certified statement of income or the ITRV along with the simple statement of income without auditor sign & seal to the client is sufficient.
pls guide. tnx
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(180956 Points)
Replied 02 July 2019
1. For bank's loan advisable to file ITR3 with P&L acct & BS.
2. Generally banks ask for CA authorization over Financial statements submitted to them.
Though no need to get books of accounts audited, but maintaining books becomes mandatory.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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