Cash on hand

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2015 respected sir,
one of my clint is a labour contractor .gross receipts amounting to rs is 60 laks .i want to file his return in form 4s.
he always maitains cash in hand around two laks for daily payments.can i disclose in form 4s total cash in hand as 2 laks.?.if i disclose 2 laks cash in hand is there any possibility of getting wealth tax notice ?.please explain.thanks in advance.total assests are wellbelow 30 laks.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 July 2015 There is no problem in disclosing cash in hand of Rs. 2 lakhs. His total assets are well below 30 Lacs.

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