First I.t. return filed
This query is : Resolved
18 June 2020
Sir,
How much amount capital and cash on hand introduced shown in balance sheet first time I.t. return filing under I.t. act for proprietory concern.
How much amount capital and cash on hand introduced shown in balance sheet first time I.t. return filing under I.t. act for proprietory concern.
18 June 2020
There is no such limit of investment, you can invest in capital what you can and for startup of your firm. after completion of year remaining will be balance in balance sheet
20 June 2020
Actual amount of capital & cash should be shown.
It should not be a buildup figures for tax filing purpose
20 June 2020
Cash on hand and capital introduced minimum and maximum amount Limit under I.t.act
21 June 2020
The income tax act does not provide any minimum or maximum limit for cash-on-hand and/ or capital introduced.
The proprietor should be able to substantiate the source of the capital introduced.
The proprietor should be able to substantiate the source of the capital introduced.
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