Recording of undisclosed assets ?
This query is : Resolved
Abhishek Kumar
(Querist)
27 February 2014
Hello Experts,
I would like know what are ways of recording Unrecorded Assets purchased five years back and not shown in Books..What are the ways to get it in record backdated ??
I am having a Sole Proprietor trading Business ?
Pls Suggest ?
Thank You.
I would like know what are ways of recording Unrecorded Assets purchased five years back and not shown in Books..What are the ways to get it in record backdated ??
I am having a Sole Proprietor trading Business ?
Pls Suggest ?
Thank You.
CMA Ramesh Krishnan
(Expert)
27 February 2014
Since it is five years back not possible to add as old dated. take current WDV as asset cost and add the capital introduced by proprietor
Abhishek Kumar
(Querist)
28 February 2014
But can i revise my Personal Balance Sheet post dated and include the asset as "Personal Asset" in Fixed Asset..Because i am availing Sec 44AD.
can this be done ?
can this be done ?
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