Saving account in books of account

This query is : Resolved

Nisha Kathuria (Querist)
Follow

22 September 2023 Dear Sir

Its mandatory to show saving account,s transaction in books of accounts in proprietor,s ship firm.
Prop has 3 saving account where no business transaction only LPG Subsidy, saving account interest, bike insurance claim etc
please advise

RAJA P M

RAJA P M (Expert)
Follow

22 September 2023 Yes, All Bank accounts will be shown. But, As Your said Expenses will be account and transfer to capital Account... No more effects in the business Account...

Message likes : 1 times

Nisha Kathuria

Nisha Kathuria (Querist)
Follow

22 September 2023 Thank you very much Raja Sir,

Please clear one more doubt

1. I have Short term Capital grain from MF and Stock so i have to selected Schlude of Long term & Short term both
2. I have sold mutual fund Rs.25200/- and Stock of Rs.46400/- so i have to add Rs.25200+46400 Rs. 71600 show in colum 111A Full Value of Consideration Rs.71600/-

3. I have purchase mutual fund Rs.26100/- and Stock of Rs.32900/- so i have to add Rs.26100 +32900 and put in Rs.59000/- cost of acquisition without indexation Rs .59000/- and then Capital gain short Term RS 12600/-

RAJA P M

RAJA P M (Expert)
Follow

22 September 2023 You are most welcome...

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now