Capital account

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harish n p c (Querist)
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30 November 2011 Dear Experts.

How to Consisting of capital account of Individual Assesse even after with out business? can we consist of capital account with his age limit ? Kindly suggest me.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 December 2011 Capital account represents the net Balance of All the assets held by the assessee less all the Liabilities.
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In case of persons not maintaining Books of Account it can be derived by the above method.
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Age is not the limiting factor. Earnings are important.
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