Balance sheet for tax audit report.

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shweta Agrawal (Querist)
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12 October 2017 How shall balance sheet be prepared for Tax Audit Report for Sole Proprietorship & Professionals? Whether it shall be prepared as per Companies Act 2013 or as per old format in horizontal form? Pls guide.

Amol S Joglekar

Amol S Joglekar (Expert)
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12 October 2017 better if it is prepared as per the ICDS......Income computation disclosure standards.

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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12 October 2017 Prepare in Horizontal Format because Companies Act doesnot applies to Proprietorship

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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12 October 2017 You can prepare it in horizontal format.

shweta Agrawal

shweta Agrawal (Querist)
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13 October 2017 If it is prepared in vertical format not as per Companies Act 2013 then there will be any problem????

shweta Agrawal

shweta Agrawal (Querist)
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13 October 2017 If it is prepared in vertical format not as per Companies Act 2013 then there will be any problem????

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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13 October 2017 If you want to prepare in Vertical format you may do so it will not create a problem.
Proprietorship are free to choose any format

shweta Agrawal

shweta Agrawal (Querist)
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13 October 2017 Thank you so much for ur help.

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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13 October 2017 Welcome Shweta Agrawal Ji

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