Dear Sir,
Please Accept my regards
When separate book of accounts are not maintained at that time while preparing balancesheet and profit and loss account to file ITR 3 as a profession shall I show Residential flat, Accumulated paid premium for LIC and shop owned by me on assets side of balance sheet.
Menu
Disclosure
Replies (4)
Quick Summary
Asking for how the above item will be reflected in balance sheet of firm?
Yaa how to reflect it and Is it advisable to disclose?
@ kapadia
these are basics of accounting and financial statements:
1. investment in residential flat should be shown in balance sheet..
2. premium paid for tax purpose is p/l item
It should feature in 80c deduction as investment for tax rebate.
3. shop owned by you -when u hv invested.
these are basics of accounting and financial statements:
1. investment in residential flat should be shown in balance sheet..
2. premium paid for tax purpose is p/l item
It should feature in 80c deduction as investment for tax rebate.
3. shop owned by you -when u hv invested.
Thank you very much Sir
Recent Topics :
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
Related Topics :
CAclubindia
