Dear All,
i just want to clear that, can one proprietor use two capital a/c separately ( example one for personal and one for firm) and add:- firm's profit in both capital a/c.
please clear this doubt
thank you.
Kuldeep Singh Panwar (7 Points)
11 October 2019Dear All,
i just want to clear that, can one proprietor use two capital a/c separately ( example one for personal and one for firm) and add:- firm's profit in both capital a/c.
please clear this doubt
thank you.
Deepak Gupta
(CA Student)
(15922 Points)
Replied 11 October 2019
You can do the following:
1. Maintain one capital account in proprietary firm.
2. Maintain personal balance sheet separately for determining net worth.
3. Transfer the capital balance of proprietary firm under investments in personal balance sheet.
sabyasachi mukherjee
(27274 Points)
Replied 13 October 2019
Law Aspire
(CS)
(755 Points)
Replied 28 January 2020
Originally posted by : Deepak Gupta | ||
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You can do the following: 1. Maintain one capital account in proprietary firm. 2. Maintain personal balance sheet separately for determining net worth. 3. Transfer the capital balance of proprietary firm under investments in personal balance sheet. |
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Best option provided.
Thanks
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)