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Proprietor

This query is : Resolved 
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(Querist)
25 September 2014 Does Savings A/c of Sole trader should be accounted?
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
25 September 2014 If transaction of business are happened from this account then Yes. If not then it is upto the proprietor whether to shown it or not.
Interest received on savings account is exempted upto Rs.10,000/- u/s.80TTA, in excess of this it is taxable.
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