May we show gold as fixed asset? If it is fixed asset there is no depreciation. In our book have some other fixed asset, I have to maintain fixed asset table, in case there is no depreciation on gold I think it is not necessary to show this in fixed asset table
06 December 2016
It is your personal asset and need not be shown in the Balance sheet of business
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 December 2016
Ok Sir Thank U
and another two questio are there plz need support
1. I have to Submit my ITR in this month under the head of Income from Business or profession. my turnover not more than 60 lakhs which one i have to select here ITR or ITRs pla let me know? Assessment year is 2016-17.
06 December 2016
1. If your income is less than 40 lakh you need not get your accounts audited. Return to be filed is ITR 4 or ITR 4 S if you are going for presumptive tax. 2. Due date 31.07.2016