Balance sheet of proprietor

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CA Ashish Barthwal (Querist)
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26 November 2014 Is balance sheet of Proprietor submitted to Income Tax Department, includes Other Sources Income in Profit and Loss Account or not.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 November 2014 all the legitimate sources of income of prop shall have to be disclosed.

CA Ashish Barthwal

CA Ashish Barthwal (Querist)
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26 November 2014 All the sources have to be disclosed, its right.

But, whether the Profit and Loss account incldes details of Income from other sources.

or

They hove to shown only in head Income from other sources and not in Profit and loss account.

Because profit of profit and loss account is shown under the head Business and Profession

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 November 2014 even the income from other sources related to business needs to be shown

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