Drawings
This query is : Resolved
29 January 2013
dear sir
how to calculate drawings for the purpose of b/s and calculate cash in hand when a assesse maintain file for the first time?
provide a dummy account if posible. please help me thanks.....
how to calculate drawings for the purpose of b/s and calculate cash in hand when a assesse maintain file for the first time?
provide a dummy account if posible. please help me thanks.....
28 July 2013
It depends on the number of persons in the family and also it depends on the place of residence. If it is in town then more drawings and if it is in village then less drawings. If in Mumbai then sky is the limit for drawings.
At the same time you have to consider the amount of income the person is having. The drawings cannot exceed the income except under special circumstances which will reduce the capital.
For Income Tax Purpose the drawings of the entire family is to be considered. The drawings include LIP, Tax paid, Expenses,personal travelling, personal telephone bills etc.
At the same time you have to consider the amount of income the person is having. The drawings cannot exceed the income except under special circumstances which will reduce the capital.
For Income Tax Purpose the drawings of the entire family is to be considered. The drawings include LIP, Tax paid, Expenses,personal travelling, personal telephone bills etc.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- If there is Long term capital gain exists how much total income to be considered
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
