Huge amount cash balance year ending
This query is : Resolved
30 March 2023
Sir,
A Doctor professional income gross receipts rs:25 lacs .but cash balance huge amount rs:15 lacs at end of financial year march-23.
Sales of medicines for pharmacy business turnover rs:90 lacs yearly but cash balance amount rs:10 lacs finical year ending.
Question
Cash balance huge amount any limit provision applicable in it act
A Doctor professional income gross receipts rs:25 lacs .but cash balance huge amount rs:15 lacs at end of financial year march-23.
Sales of medicines for pharmacy business turnover rs:90 lacs yearly but cash balance amount rs:10 lacs finical year ending.
Question
Cash balance huge amount any limit provision applicable in it act
31 March 2023
No limit but it should be commensurate with the income declared in the ITR.
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