Harshit (Arbitrager) (215 Points)
21 July 2013Hi,
I was Filing ITR4, and in part BS, there is a section stating
| Proprietor’s capital |
What exactly do we need to fill in this section, Do we need to fill in "Capital Account" balance at the end of the FY.
Thanks,
Harshit Patel
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 21 July 2013
ITR4.
There are two sets of accounts - 1. Proprietory concern and 2. Individual account
You need to fill the balance sheet and profit and loss of proprietory concern.
As per the accounts of proprietory concern - the accumulated balance of proprietor will be closing balance of capital account as at 31.03.2013.
you need to fill the amount as per balance sheet and it should tally in the ITR. Assets and Liabilities. Vertical Format.
Hope this solves your queries.
CAclubindia
