HOW TO GET THE PROPRIETORS CAPITAL FIGURE IN BALANCE SHEET (ITR3)
This query is : Resolved
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.
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.
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.
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.
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.
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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12 June 2023
You are welcome.
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