Balance sheet and personal assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2013
respected sir ,
for a propritory business whether balance which is submitted to income tax department shall include fixed assests like residential house or site and other personal assests .please explain
for a propritory business whether balance which is submitted to income tax department shall include fixed assests like residential house or site and other personal assests .please explain
29 September 2013
No. Keep personal assets out of the purview of the income tax return. However, the same shall still be revealed if wealth tax applies to your case.
The tax return should give details only of the assets and liabilities related to the business of the proprietor.
The tax return should give details only of the assets and liabilities related to the business of the proprietor.
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
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Transporter Declaration form
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Opting our of sec 44AD
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
