In the ITR's Forms. It is mentioned that give particulars of business B/S & P&L. Now If in case of proprietorship business a person has 4 Firms & he makes an consolidated B/S & P&L and enters figures accordingly.
Now my Question is :
1.) Is it compulsory to File Personal B/S as well (Giving all details of personal assets)?
2.) Is it permissible to File Personal B/S in the ITR's Forms?
3.) Now should we maintain Accounts Books of personal nature i.e B/S & preserve it on our recods for the case of scrutiny or otherwise?
4.) Can an A.O demand at anytime to file personal B/S.?
Thanks.
CAclubindia
