Not forwarded balances properly

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2016 Sir
I used to file my return as interest income only. Later I started a business but mistakenly forgot to club my personal balance sheet ..means my bank balances investments vehicle all t balances I had forgotten to file.now this financial year I want to incorporate my balance sheet what adjustment to make what will be the entries .. please guide

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

20 September 2016 please check if yours is NO account case. If so, then you dont have to file balance sheet
If your is account case, then prepare the balance sheet from whatever record you have.

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2016 I didn't understand your answer.. I had filed return of my business which is a proprietor ship firm registered but forgot to include my personal balance sheet which had bank accounts investments etc and now I want to show those balances in current year ie 2015-16

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

20 September 2016 it needs some expertise to understand the answer.....Anyway...for you, you can attach the balance sheet this year, no problem

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2016 Hello sir I m sorry for not understanding ur reply but that's y seek ur advice .. if there is a difference in my opening balances will not some effect has to be given ? Do I simply put opening balances in my software n add these or do I pass any adjustment entry.. kindly guide .. will my capital account balance change?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

21 September 2016 i think you can enter the opening balances....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok