30 August 2010
Sir, For company we make P&L and Bal sheet. i)In case of a co-operative housing society which accounts are to be made? ii)similarly which a/cs are required for A trader under Tax audit & A service provider under Tax Audit?
In case of Co-operative Group Housing Society, Income & Expenditur A/c and Receipt & Payment A/c & Statement of Affiars are made. In Receipt & Payment , all receipt and payment related to cash & bank are shown. In Income & Expenditure, all income including monthly subscription, interset on fd etc are shown, in expenditure, all expenses relating to maintining society are shown, balnace over expenditure t/f to Statement of Affiars. IN Statement of Affiars all asset & liablities and captial are shown as like Balance sheet. In case of trader covering under tax audit, similarly Balance Sheet & Trading and Profit & Loss a/c are made. In case of service provider also, Profit & loss and Balance sheet is made.
CAclubindia
