Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

banner_ad

Opening balance

This query is : Resolved

Share Report Follow Query Ask a Query

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
Follow

18 May 2020 Sir,
Assess small businesses person.
Sales turnover finicial year : 2018-2019 rs.69 lacs
Sales turnover finicial year:2019-2020.
Assess I.t. returns filed two years for the purposes of bank loan.
Question:
Assess How much amount capital account and cash on hand opening balance introduced as on 01.04.2018
Shown in balance sheet under I.t.act

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

19 May 2020 1 2 to 3 lacs capital and 18,000 cash may be shown.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

23 May 2020 It has to be on actual basis and based on books of accounts maintained for previous year.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member Fahima Malik

Fahima Malik

Pro Member ashvini tripathi

ashvini tripathi

Pro Member xavier

xavier

Pro Member Arun Borad

Arun Borad

Pro Member S N Unni

S N Unni

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

22 May 2026

Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details

21 May 2026

Associate

PWC

Kolkata

CA

View Details

26 May 2026

Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details

01 June 2026

Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details

Featured 26 May 2026

Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

04 June 2026

Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details

ARTICLESHIP 15 May 2026

Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details

29 May 2026

Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details