Exit savings accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2015 SIR
I am a doctor running my private clinic.i prepared balance sheet as proprietor myself in tally 5.4.i have 7 savings ac ,all are displayed in b sheet under bank accounts.i want to exit at least 4 account from from b sheet from next FY without closing them permanently.can i withdraw money as self withdrawal from these ac in b sheet or as cash in hand.or suggest me how i will be done.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 January 2015 You can withdraw money as self withdrawal.

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Guest

Guest (Expert)

28 January 2015 You can remove such accounts from your Balance sheet by debiting capital and crediting balance of such accounts as on date. This way, you dont need to close such accounts. However, interest income will continue to be taxable under Income from other sources.

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