06 July 2016
Sir i dont have any substantial income...but i want to file a return for previous year and current year i need your suggestions..on what to show in my capital ac.
07 July 2016
What was purpose behind this,,do u have a plan of taking any loan,,
capital is the amount with which you have started business application of which you may buy some assets or for commencement of biz, and yearly profit will added to capital. adn drawings if any reduced from this
Contact a tax consultant for this so that you can have face to face conversation and completing this procedure
07 July 2016
For any business which is newly startup, you must credit capital account by below: Cash on hand Bank Balance Fixed assets such as vehicle, Gold ornaments, Mobile Phone, etc. Any advances given or Accepted from someone.
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