Firm balance sheet & personal balace sheet

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2015 I am proprietor of a firm having tax audited during AY 2014-15. While filling ITR 4, whether I should fill only the figures of my firms in Balance sheet or my personal figure also : Personal figure means Balances in my own own bank account and assets/investments in my name, which are shown only in my individual B/sheet and not in firm's B;sheet.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 March 2015 Individual investments/assets need not be shown in the proprietor firm business balance sheet while filing ITR 4. But income on such assets and investments should be included in the return and tax paid on it.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 March 2015 as a properietor u need to maintain a combined data of personal assets and busines assets in balance sheet but for buisness only u need to prepare profit & loss a/c

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