kruthika
asked
Can Income Tax Return be considered as proof of economic transaction?
0
0
Answer Now
Comment
Report
1
Answers
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below –
For any questions Request A Call Back
Jitendra Suthar
answered
Hii friend.....
Yes the Income Tax return can be considered as a proof of Economic Transaction.
It is proof of Income and the Income is made of many transactions so can be used as proof of Economic transaction.
This Return can be used in case of Loans to prove your Income because this Incomes shows your Repayment capacity in case loan.
**So ultimately yes Income tax return is a proof of Economic transaction.**
Regards,
