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House Property detail in case of Proprietorship
In the case of Proprietorship( liable to get it's accounts audited) , does it mandatory to show residential house of Proprietor as an asset in the audited balance sheet.
Replies (2)
Not mandatory to declare personal details.
Tax audit is for proprietory business and not of an individual per se.
So far as assets and liabilities which are not his business related then you may skip those from Balance Sheet.
So far as assets and liabilities which are not his business related then you may skip those from Balance Sheet.
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