Opening balance of cash a/c

HIMANSHU GUPTA (Sr. Accounts Executive) (97 Points)

18 November 2016  

If the assessee is Filing his/her ITR & Preparing his Books of Accounts for the First Time, Then Can he show Opening Balance in the Cash Account??

if yes, that too with Corresponding effect as Opening Bal. in his/ her Capital A/c ?

.

Thanks In Advance...

Best Regards

HImanshu Gupta