Personal balance sheet

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Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 What would be the treatment if there is a home loan in last b/s and and there is askip of filing return after that?
I mean what would be the treatment of home loan after that 1 year skip on balance sheet !!

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 Plz anyone help me out as soon as possible because july end is near !!

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 skip in filling or return means u have not filed a return in the year of taking loan is that the meaning?

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 Yes. So what adjustment is required in balancesheet!

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 then u can show it as prior period item as per AS-5 in current year bal sheet.

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 It does not maintain complete set of books of accounts he recieves proffessional fees

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