Balance sheet
This query is : Resolved
12 March 2021
Respected Sirs/Madam,
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.
Thanks & regards
Bhupender
bhupenderka@yahoo.co.in
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.
Thanks & regards
Bhupender
bhupenderka@yahoo.co.in
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.
It would be better not to combine shares transactions with commission business.
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
- Opting our of sec 44AD
- Copyright software
- Transporter Declaration form
- Multiple trade mark
- Value of property in capital gain
- LC charges in relation to Asset purchased should be Capitalised ?
- Form 121 & TDS deduction
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
