Accounts
This query is : Resolved
Sudma Sahoo
(Querist)
28 April 2019
If one person has business and all payments and receipts related to business are done through his Saving bank accounts. Tax audit is also applicable in this case.
How to maintain accounts in tally?is there any need to pass journal for each personal and business transaction?
How to maintain accounts in tally?is there any need to pass journal for each personal and business transaction?
CA. Brijesh Baranwal
(Expert)
30 April 2019
1. Tax Audit requirement depends upon the turnover criteria etc., irrespective of whether transaction are being done in Savings A/c. or Current A/c.
2. You may prepare two separate set of books in tally, one for business transactions and the other for personal transactions.
2. You may prepare two separate set of books in tally, one for business transactions and the other for personal transactions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Movement of goods by packers and movers - type of sale - Reg.
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
