07 September 2015
I am a non working partner in a firm. I have started my proprietory company. I am regularly filing my individual IT returns. My proprietory company has not started production. I have incurred expenses in last 4 years in this company . I have issued some personal cheques for asset purchase. No balance sheet has been prepared . What should I do How should I file my IT returns
07 September 2015
Prepare balance sheet for proprietary concern. Capitalize all expenses prior to start production. Include the balance sheet in the return.