Asking for accounting details
Rohini (student) (9 Points)
22 October 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 22 October 2016
For individuals, flats are investments, & rent received is under income from house property.
Rohini
(student)
(9 Points)
Replied 22 October 2016
Can we prepare individual rental income in tally as he is sole propriter
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 22 October 2016
Yes, sub-ledgers can be formed, under a (new)group "Rental Incomes"
Fatin Nizami
(338 Points)
Replied 05 May 2018
Rent would be shown as an Indirect Income. Flats will be shown as Investments.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"