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Accounting for new proprietorship business

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2018 Dear all,
Please let me know if a person start his own business form jan 2018, from which date we can write his accounts for F.Y. 2017-18. If we start to write from Jan 2018, but for income tax return purpose his account to be kept from April 17 to March 18. Now from which month i.e. April 17 or Jan 18 we should write his accounts.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
30 July 2018 You prepare books for April 17 to March -18, since balance sheet you have to show all assets and bank balance including sb also to arrive opening capital for source for investment.
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