Assess first time I.t. return filed person source of repairs income as a mobile repairs and recharge . Assess I.t . return filed for bank loan purposes in f.y.2019-2020 net income rs.3,20,000/-
Assess How much amount capital and cash on hand introduced opening balances shown in balance sheet as on 01-04-2019 under I.t. act.
It's depends on case to case
it's depends on what is your other income, your age, from how many year you are doing this business, marital status, future prospects/ need of capital ect,ect there is many factors to see.
CAclubindia
