Please guide me. I have Income from commission business received + salary +Dividend . 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/Deposits should be shown in balance sheet or not . In Liabilities and assets should be only shown transactions relates to commissions business. In further years I will shown income under sale of shares/property/ Deposits etc.
24 September 2021
Personal assets or investment need not be declared in financial statements of your business. It would be better not to combine shares transactions with commission business.
CAclubindia
