Can we make balance sheet & pl a/c ?
This query is : Resolved
26 March 2014
Dear Expert,
I am Opting for Sec 44AD and i am running a Trading Business..i want to prepare my personal Balance Sheet & Capital A/c..Can i do so ?
I am Opting for Sec 44AD and i am running a Trading Business..i want to prepare my personal Balance Sheet & Capital A/c..Can i do so ?
26 March 2014
u can make it there is no restriction as such anywhere for same.
26 March 2014
Sir then how can i disclose my assets if i do not maintain Balance Sheet
26 March 2014
law gives u freedom from not maintaining books but if u want for personal purpose then u can maintain seperate books for urself.
26 March 2014
Sir Does sale of Agricultural Land liable for Caputal Gain Tax. ?
27 March 2014
abhishek, if the land is with the definition of agriculture land as provided in 2(14), it wont be taxable.
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