priyanka ashok sawant (Account Assistant) (49 Points)
22 March 2024IF THE DIRECTOR HAS A PROPRIETORSHIP BUSINESS SO WHEN HE GET REMUNERATION FROM THE COMPANY WHERE TO SHOW IN THE BALANCE SHEET OR PROFIT & LOSS ACCOUNT OR IN THE COMPUTATION OF INCOME? HE FILES INCOME TAX AGAINST BUSINESS INCOME AND SALARY SHOWN IN CAPITAL ACCOUNT SO IS THAT OK. PLEASE GIVE ME PROPER GUIDANCE
RAJA P M
("Do the Right Thing...!!!")
(127506 Points)
Replied 22 March 2024
priyanka ashok sawant
(Account Assistant)
(49 Points)
Replied 22 March 2024
But where we can show
In computation as a income from salary
Or added in capital account in balance sheet
RAJA P M
("Do the Right Thing...!!!")
(127506 Points)
Replied 22 March 2024
BALASUBRAMANYA B N
(CCI STUDENT....)
(44668 Points)
Replied 25 March 2024
The individual needs to show all his income while filing the income tax returns,
In Computation
Salary under Income from Salary Income
Business Income under Income from Profit and business income
Other income under Income from Other Sources
Shares and Property sold under Income from Capital Gain / Loss
Hope this solve your query.
Thanks
CAclubindia
