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Balance sheet for tax audit report.

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(Querist)
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.
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Amol S Joglekar

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

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



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CA Rashmi Gandhi

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

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

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

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Ashiwini Ballodia (Expert)
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
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shweta Agrawal

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



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Ashiwini Ballodia

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

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