Dear All,
i just want to clear that, can one proprietor use two capital a/c separately ( example one for personal and one for firm) and add:- firm's profit in both capital a/c.
please clear this doubt
thank you.
Menu
Two capital a/c in a proprietorship firm ?
Replies (3)
You can do the following:
1. Maintain one capital account in proprietary firm.
2. Maintain personal balance sheet separately for determining net worth.
3. Transfer the capital balance of proprietary firm under investments in personal balance sheet.
If you are maintaining a seperate capital account
then its ok.
Maintain seperate balnce sheet .
Non Current Investments .
then its ok.
Maintain seperate balnce sheet .
Non Current Investments .
| Originally posted by : Deepak Gupta | ||
 |
You can do the following: 1. Maintain one capital account in proprietary firm. 2. Maintain personal balance sheet separately for determining net worth. 3. Transfer the capital balance of proprietary firm under investments in personal balance sheet. |
 |
Best option provided.
Thanks
Recent Topic
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
Related Topics
CAclubindia
