Dear Member's
Assessee was in to a business of Transportion during the financial year 2008-09.
1 - He forgot to file IT returns for the FY's 2006-07 & 2007-08... So is there any chances to file those returns.
2 - The returns for the FYr 2008-09 is also yet to be filed and as on 31st March 2009 there was no tax libility becoz TDS were already deducted. So Whether he can file his returns now.
3 - He bought one Transport vehicle for Business purpose on Loan during the FY 2008-09. so whether can he claim in his income and expenditure account interest paid on loan. If yes than what is the criteria.
Eagerly waiting for you valuable advices. Please Help.......
Thanks in advance..
Have a Good day to all.
Shaikh Imran
CAclubindia
