Books of accounts

SANTOSHKUMAR R CHAKRASALI (CA STUDENT AND TAX CONSULTANT) (47 Points)

05 June 2017

how to keep books of accounts of joint accounts of assessee?

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2 Replies

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 05 June 2017

Treated as account of first named account holder.

SANTOSHKUMAR R CHAKRASALI (CA STUDENT AND TAX CONSULTANT) (47 Points)
Replied 10 June 2017

then how to byfurcated income or expenses for both partners if we taken account of first name holder to books of account

that peoples or not partners they or brothers

if we are taken the income for one person it will be more for single person

please give an example with journal entry

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