12 April 2010
sir, actually i want to ask u the basic question.. if a person has been filing returns since (any no of years)..and if he doesnt file his return in this year or coming year...becoz he has not taxable income..(income does not exceed the exemtion limit)...he is individual....then it is ok with the dept...can he continue return filing in next year ,if he has taxable income...generally c.a's dont tell this to clients and they r not aware of this fact..and next then what happened to his capital a/c and bal sheet for that year in which he is not filling the return ...how the below exempted incone can adjust in capital a/c bal sheet....
answer it
1for salaried employee 2for sole proprietor businessman
increase the capital of employee with the profit for the non return filling year and also complete the balance sheet with taking the balances of profit.
For sole proprietors also do the same thing even though the return has not been filed.Kindly update the balance sheet so that it should be updated.
28 May 2010
sir,, i wanna ask u 1 question..that wat is the capital introduction criteria for a business assessee? i mean starting capital introduce ka source ka hoga and wat we show or prove? upto how much amt ?
29 May 2010
SOURCE OF CAPITAL FOR NEW BUSINESS IT'S YOUR OWN CAPITAL AS PER YOUR CAPITAL A/C OR B/SHEET OR LOAN FROM BANK/OTHERS OR GIFT OR ADVANCE ETC.
Guest
Guest
(Querist)
18 December 2010
and if a person (business assessee) filing return first time? then how can he show his opening capital..
CAclubindia
