For a proprietor having 2 business - books of accounts
This query is : Resolved
01 March 2018
Dear All,
A proprietor having 2 businesses. But the accounts are maintained only for business and does not include personal commission business. Is it proper? Does he need to have combined balancesheet for both the businesses or he needs to maintain 2 searate balancesheets?
A proprietor having 2 businesses. But the accounts are maintained only for business and does not include personal commission business. Is it proper? Does he need to have combined balancesheet for both the businesses or he needs to maintain 2 searate balancesheets?
01 March 2018
Yeah....
If he run Two business with different names then Yes he can follow separate Accounts and BS and PandL...
In case he is run One business and the Commission income earned without any firm then he can add it in his one of the Business Account...
01 March 2018
You can have separate Financial to have control of Each business, But while file tax return assessee has to combine all business income, Balance Sheet should also combined for all Individual business done by proprietor.
01 March 2018
You can have separate Financial to have control of Each business, But while file tax return assessee has to combine all business income, Balance Sheet should also combined for all Individual business done by proprietor.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- 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
Trending Online Classes
CAclubindia
