HOW TO GET THE PROPRIETORS CAPITAL FIGURE IN BALANCE SHEET (ITR3)

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12 June 2023 Dear Sir Madam

I only started trading in future and options last financial year . Earlier I used to trade in equities only . Now my question is where to get the proprietor capital figure to start a balance sheet.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 June 2023 You can prepare the financial statements for business account only; need not club personal/capital assets to it.

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12 June 2023 Hello Sir

Thanks for your prompt response .My turnover was very miniscule around 1000/- rs Can I put the proprietor capital as 5 lacs to start with.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 June 2023 The capital has no relation with the said income earned through F&O business.
You should have the source of investment or savings or loan/s routed through bank accounts, why just Rs. 5 lakhs it can be anything.

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12 June 2023 Thanks sir I appreciate it

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 June 2023 You are welcome.

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