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PEROSNAL BALANCE SHEET AND BUSINESS BALANCE SHEET

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(Querist)
29 July 2022 1) I HAVE QUERY ABOUT BALANCE SHEET IF PERSON HAVING PROPRIETORY BUSINESS. WHETHER HE NEED TO BE MAINTAIN BOTH BALANCE SHEET SEPARATELY OR COMBINE BALANCE SHEET ???

2) AND IF HE HOLDING SHARE AND STOCK INVESTMENT THEN WHERE SHOULD BE MENTIONED IN IT. PERSONAL OR BUSINESS.

3) SHOULD HE NEED TO MENTIONED FLAT OR HOUSE PROPERTY IN HIS BUSINESS OR COMBINE BALANCE SHEET ?

NOTE HE IS HAVING ONE BANK ACCOUNT
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
29 July 2022 1. Generally keeping business balance sheet separately advisable. But one can keep it combined also.
2. If separate accounts in personal or capital accounts.
3. Unless any commercial property used in business, HP etc are kept in individual capital account.
4. Better to have business dealings in current account, separate from personal saving account.
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