Accounts
This query is : Resolved
28 April 2019
If one person has business and all payments and receipts related to business are done through his Saving bank accounts. Tax audit is also applicable in this case.
How to maintain accounts in tally?is there any need to pass journal for each personal and business transaction?
How to maintain accounts in tally?is there any need to pass journal for each personal and business transaction?
30 April 2019
1. Tax Audit requirement depends upon the turnover criteria etc., irrespective of whether transaction are being done in Savings A/c. or Current A/c.
2. You may prepare two separate set of books in tally, one for business transactions and the other for personal transactions.
2. You may prepare two separate set of books in tally, one for business transactions and the other for personal transactions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
