Dear Querist,
No, personal investments, insurance and mutual funds need not be included in the business balance sheet if they are not used for the F&O/F&I trading business.
The business balance sheet should show only business-related assets and liabilities, such as broker balance, margin, bank balance and trading capital. Personal investment income or gains should be reported separately in the ITR, wherever applicable.
Practical step: keep business trading records and personal investment records separate.
For a more detailed review of your case, you may book a phone consultation.
CA Shubham Goyal
