Exit savings accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 January 2015
SIR
I am a doctor running my private clinic.i prepared balance sheet as proprietor myself in tally 5.4.i have 7 savings ac ,all are displayed in b sheet under bank accounts.i want to exit at least 4 account from from b sheet from next FY without closing them permanently.can i withdraw money as self withdrawal from these ac in b sheet or as cash in hand.or suggest me how i will be done.
I am a doctor running my private clinic.i prepared balance sheet as proprietor myself in tally 5.4.i have 7 savings ac ,all are displayed in b sheet under bank accounts.i want to exit at least 4 account from from b sheet from next FY without closing them permanently.can i withdraw money as self withdrawal from these ac in b sheet or as cash in hand.or suggest me how i will be done.
27 January 2015
You can withdraw money as self withdrawal.
Message likes :
1 times
Guest
Guest
(Expert)
28 January 2015
You can remove such accounts from your Balance sheet by debiting capital and crediting balance of such accounts as on date. This way, you dont need to close such accounts. However, interest income will continue to be taxable under Income from other sources.
Message likes :
1 times
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Reporting of STCG on Property in ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
