Steps to Add Sole Proprietorship Income

1. Go to File > Business & Profession > Add Business
2. Select the appropriate Nature of Business
3. Choose your Taxation Scheme:
   • Regular – Declare actual income and expenses by maintaining books of accounts
   • Presumptive – Declare income under Sections 44AD, 44ADA, or 44AE without detailed books
4. Enter your Business Details, including:
   • GST Registration (if applicable)
   • Business Name
5. Provide your Business Address and confirm the Nature of Business
6. Fill in the required Income Details, such as:
   • Gross Receipts
   • Expenses
   • Net Profit

Steps to Add Assets & Liabilities

1. Click on the Assets & Liabilities tab
2. Enter Your Assets, such as:
   • Fixed Assets (e.g., machinery, furniture, equipment)
   • Investments
   • Current Assets (e.g., cash in hand, accounts receivable)
   • Other Assets (e.g., deposits, loans given)
3. Enter Your Liabilities, including:
   • Reserves and Surplus
   • Non-Current Liabilities (e.g., long-term borrowings)
   • Current Liabilities (e.g., creditors, short-term loans)
4. Click Save once all the required details are filled in