Asset final value in ITR 3
Tamanna Fashion Store (23 Points)
25 May 2020can I show it in asset for individual ITR 3 filing 2019-20 and what value I should put now , I purchased at 10999 rs?
Thanks.
Tamanna Fashion Store (23 Points)
25 May 2020
Asha Kanta Sharma
(Manager - Finance & Accounts)
(10524 Points)
Replied 26 May 2020
sabyasachi mukherjee
(26047 Points)
Replied 26 May 2020
CA Raj Doshi
(Practising CA)
(8723 Points)
Replied 26 May 2020
CA Arun Kumar Tiwari
(CA in Practise)
(445 Points)
Replied 28 May 2020
In this case, Mobile is purchased after the year end then Cut Off procedure should be followed and this expense is regarded as Personal Expense .So it should not be shown in Balance Sheet Asset side of Rs.10999.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"