He asked that while preparing BS and for preparing BS you need to show capital. Salary is part of capital. So better let the querist reply .
I don't need your suggestions here
Let the members decide, why you always try to decide the correct reply even when you dont know.
| Originally posted by : sabyasachi mukherjee | ||
 |
Salary is income from salary. |  |
Really? Salary is salary? Wow! No one would ever have known!
WHEN SALARY IS RECEIVED IT MUST HAVE BEEN DEPOSITED IN SAVING ACCOUNT.BUSINESS HAVE NORMALLY CURRENT ACCOUNT HAVING BUSINESS NAME.SO WHILE PREPARING ITR FOR INDIVIDUAL SALARY CANNOT BE BUSINESS INCOME .IT IS SHOWN SEPRATELY UNDER SALARY INCOME. WHATEVER AMOUNT DEPOSITED IN CURRNET ACCOUNT OF BUSINESS IS CAPITAL INTRODUCED BY THE PROPRIETOR.AND BALANCE SHEET AND PROFIT AND LOSS ACCOUNT OF THE BUSINESS WILL BE PREPARED ACCORDINGLY FROM CURRENT ACCOUNT BANK ACCOUNT.
NO BALANCE SHEET IS REQUIRED FOR SALARY INCOME .SALARY INCOME WILL BE AS PER DEPOSITS MADE FROM SALARY IN SAVING ACOOUNT OR POSSIBLE FROM FORM 16 IF AVAILABLE.THAT WILL BE SHOWN INDER SALARY UNDER INCOME FROM SALARY.
WHEN SALARY IS RECEIVED IT MUST HAVE BEEN DEPOSITED IN SAVING ACCOUNT.BUSINESS HAVE NORMALLY CURRENT ACCOUNT HAVING BUSINESS NAME.SO WHILE PREPARING ITR FOR INDIVIDUAL SALARY CANNOT BE BUSINESS INCOME .IT IS SHOWN SEPRATELY UNDER SALARY INCOME. WHATEVER AMOUNT DEPOSITED IN CURRNET ACCOUNT OF BUSINESS IS CAPITAL INTRODUCED BY THE PROPRIETOR.AND BALANCE SHEET AND PROFIT AND LOSS ACCOUNT OF THE BUSINESS WILL BE PREPARED ACCORDINGLY FROM CURRENT ACCOUNT BANK ACCOUNT.
NO BALANCE SHEET IS REQUIRED FOR SALARY INCOME .SALARY INCOME WILL BE AS PER DEPOSITS MADE FROM SALARY IN SAVING ACOOUNT OR POSSIBLE FROM FORM 16 IF AVAILABLE.THAT WILL BE SHOWN INDER SALARY UNDER INCOME FROM SALARY.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
