Statement of affairs urgent

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professional

261 Points Posted on 24 May 2013

Dear All,

Can Anybody Throw light when an individual Receives notice fromt the IT Dept he is asked to submit the Statement of Affairs.

What all the Steps to be followed to submit the Statement of Affairs ? Please simplify in steps ?

What all r the documents to be collected

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Master in Accounts & high court Advocate

7021 Points Posted on 24 May 2013

Originally posted by : CA.Sonia
	Dear All, Can Anybody Throw light when an individual Receives notice fromt the IT Dept he is asked to submit the Statement of Affairs. What all the Steps to be followed to submit the Statement of Affairs ? Please simplify in steps ? What all r the documents to be collected The statement of affairs method resembles your company's balance sheet in that it shows the company's net worth at a point in time. The statement of affairs method compares transactions at the beginning period to transactions at the ending period to calculate profit and loss. If assets exceed liabilities, this represents a positive capital position for the company, which is a profit. A loss has occurred if liabilities surpass assets when comparing the beginning and ending affairs of the business.