Balance sheet

This query is : Resolved

Bhupender Aggarwal (Querist)
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07 January 2021 Respected Sirs/Madam,

Please guide me. I have insurance agency . and around 5 Lac from commission received + salary in the financial year 2019-20. I have some confusion regarding balance sheet prepare for own Income tax Return please let me now earlier years and current years personal Investment in shares / Gold/property is should be shown in balance sheet or show only relates to commissions Business Liabilities and assets. In comming years I will show income against sale of shares/property.

Thanks & regards
Bhupender
bhupenderka@yahoo.co.in

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 October 2021 You can declare the all the assets & liabilities related to the business/es combined. No need to declare any investments, which are not related to these businesses.

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