is some minimum balance to be mainted in PLA?
This query is : Resolved
28 March 2011
IS there any minimum balance which i am supposed to maintain in my PLA account at the end of every year? Can i utilise the complete balance oustanding in my PLA account as on 31.3.11 to make payment of excise duty?
I have gone through the rules, and did not find anything which says that PLA cannot be zero. however i would like to confirm
I have gone through the rules, and did not find anything which says that PLA cannot be zero. however i would like to confirm
CA Navin Jain
(Expert)
28 March 2011
yes, u can do it
CA Chandresh Agrawal
(Expert)
29 March 2011
Yes you can utilise ur full balance but to be safer side its advisable to keep some balance in PLA a/c beceause in future if there is some liabilty arise and if u have excess balance in PLA a/c so it will strength ur case.
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