Sir,
Assess savings Rs:2 lacs for year and his total accumulated capital is Rs:20 lacs in last 10 years.
Question:
Assess then how to show this accumulated capital in it returns.
If you are showing income from business and profession, then show opening capital in the business.
Prepare 2 balance sheets, one personal and one for business.
Show business balance in ITR, personal balance sheet is only in case of scrutiny.
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