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Balance sheet format for salaried individual

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Dheeraj yadav

Chartered Accountant

47 Points Posted on 26 February 2020

can any one have Balance sheet format for salaried individual??

Replies (4)

Quick Summary

While a traditional balance sheet isn't standard for salaried individuals, it can be prepared for specific purposes like loan applications. This involves creating an income/expenditure account first, with any surplus transferred to a capital account. The final balance sheet will list all personal assets (cash, investments, jewellery) and liabilities.

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 26 February 2020

Balance sheet is not applicable to salaried individual

Dheeraj yadav

Chartered Accountant

47 Points Posted on 26 February 2020

That I know...but in case of loan process one of my client required balance sheet..and he is a salaried employee

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 26 February 2020

Then talk to the bank officials.

Loan process they ask either payslips or form 16 or ITR and bank statement if salary account is in another bank

sunil jain

sr. manager

23 Points Posted on 11 August 2023

Any individual can have the income/expenditure account irrespective of fact i.e. salaried or businessman or professional. From the income/expendure account, the excess of income over expenditure will transfer to capital account and then to balance sheet of individual. The balance sheet will contain the details of all assets and liabilities which should include cash, bank balances, gold and other jewellery, all type of investments and othe liability side all type of liability will be shown.