NET WORTH CALCULATION

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Bhavya (Querist)
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26 April 2011 Which items should be considered for net worth calculation ???
In case of individual Mr A who is Proprietor of ABC where fixed deposits of ABC are in the name of Mr. A & Cash Credit,O/D limits are availed by ABC

Should the FD & CC figures form part of net worth calculation in the above case ???

Plz Rply ......

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 April 2011 Fixed Deposits are not net worth of business but net worth of A

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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26 April 2011 fixed deposits of ABC in the name of Mr.A then it will be include in net worth of ABC.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 April 2011 Look in case of Proprietorship Firm two different Balance Sheets are prepared. One for Business and one personal Balance Sheet.
So Fixed deposit in the name of Mr A (If FD is of out of funds of ABC) will form part of Net Worth of Business.

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Bhavya

Bhavya (Querist)
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27 April 2011 @CMA Sanjay Gupta

A is Individual & is having ABC Proprietor Business. in that Should the Investment of A in ABC be Considered in Calculation of Net Worth of A

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 April 2011 Yes. The Investment of A in ABC should be Considered in Calculation of Net Worth of A.

But in case A has an FD in his name same can not be considered in calculation of Net Worth of ABC Business.

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