How to make a balance sheet on presumptive basis
BHUPESH SHARMA (ARTICLE ASSITANT) (63 Points)
31 May 2017
HOW TO MAKE A BALANCE SHEET ON PRESUMPTIVE BASIS
3 Replies
Farhaad Jiwani
(Tax Consultant at Nagpur)
(303 Points)
Replied 01 June 2017
Bhupeshji, u must have got gross receipt and income (at least 8%) with you along with you must be knowing the direct and indirect expenses of your business, so make trading & P&L according to it. make sure gross receipt and income figure doesn't change as these have to be filed with the department.
Poltu Ghosh
(Job)
(1865 Points)
Replied 20 June 2017
Balance sheet cannot be made on presumptive basis. It must be supported by proper documents and evidence
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