banner_ad

House Asset in Balance sheet

A/c entries 327 views 4 replies

Hello ,

I want to understand and know whether a  Propreitory Firm  need to show House Asset value in balance sheet which is owned by Propreitor. I am of opinion that it's owned by individual and not by Firm name,so not required to show in company balance sheet .Please correct me if I am wrong .

Also whether Gold or personal loan or house loan  taken by Propreitor need to be shown in Firm balance sheet .

House Purchased in 2004 with home loan and Firm started in 2019.

Thank you 

 

 

Replies (4)

iF THE LOAN IS NOT TAKEN FROM COMPANY BANK ACCOUNT, NO NEED TO DISCLOSE IT IN BALANCE SHEET

Ok not possible
Personal assets need not be shown in business balance sheet..There wealth tax return for filing personal assets
Pls furnish detailed report about personal assets.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details