Which cash balance has to be mentioned in case of 44AD?


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Quick Summary
When filing under Section 44AD, you should declare the cash balance pertaining to your proprietary business. It is not necessary to create a separate personal balance sheet for this purpose. The balances of your proprietary firm, including cash, debtors, creditors, and stock, are the relevant figures to report.

24 February 2023 If I prepare a separate balance sheet for the Properetory firm and personal, which balance must I show in 44AD?

Proprietor Firm balances are mentioned below.
Cash 30000
Debtors 28000
Creditors 12000
Stock 7000

Personal balances are mentioned below.
Cash 16000
Debtors 0
Creditors 0
Stock 0

44AD case is applicable to business then should I show the Proprietory firm balances in 44AD?

24 February 2023 Yes, show Proprietary firm balances in 44AD.

24 February 2023 It means that it is not necessary to make a personal balance sheet. Right?

24 February 2023 Yes you are right.....


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