Accounts to be prepared?

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Sweta (Querist)
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30 August 2010 Sir,
For company we make P&L and Bal sheet.
i)In case of a co-operative housing society which accounts are to be made?
ii)similarly which a/cs are required for
A trader under Tax audit &
A service provider under Tax Audit?

rgds
sweta

Sweta

Sweta (Querist)
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30 August 2010 (As replied by Bijender ji by PM)

In case of Co-operative Group Housing Society, Income & Expenditur A/c and Receipt & Payment A/c & Statement of Affiars are made. In Receipt & Payment , all receipt and payment related to cash & bank are shown. In Income & Expenditure, all income including monthly subscription, interset on fd etc are shown, in expenditure, all expenses relating to maintining society are shown, balnace over expenditure t/f to Statement of Affiars. IN Statement of Affiars all asset & liablities and captial are shown as like Balance sheet.
In case of trader covering under tax audit, similarly Balance Sheet & Trading and Profit & Loss a/c are made. In case of service provider also, Profit & loss and Balance sheet is made.

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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30 August 2010 Thanks for posting in query.

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