Cash balance large amount
This query is : Resolved
Quick Summary
30 January 2021
Sir,
One of a sec 44ada professional income I.t.return filer large amount Rs:30 lacs cash on hand balance show in books as on 31-03-20.
Question:
1.Assess large amount cash on hand balance show in I.t. return allowed and any problems future.
2.how to adjustment procedure large amount in books.
One of a sec 44ada professional income I.t.return filer large amount Rs:30 lacs cash on hand balance show in books as on 31-03-20.
Question:
1.Assess large amount cash on hand balance show in I.t. return allowed and any problems future.
2.how to adjustment procedure large amount in books.
31 January 2021
The cash balance should correspond to the turnover shown in ITR.
Message likes :
2 times
31 January 2021
1. Large amount of cash allowed but it depends of nature of business and your receipts from them.
2. Deposit such cash in bank or withdraw it for personal use
Message likes :
1 times
03 February 2021
Sir,large cash balance amount some amount cash loans to debtors money payment allowed adjustment in books.
03 February 2021
SIR, THESE THINGS CANT BE DISCUSSED ON PUBLIC PLATFORM. BETTER YOU CONSULT LOCAL CA OR SOMEONE WHO EXPLAINED YOU OVER TELEPHONE
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