Opening capital
This query is : Resolved
24 June 2013
My client is having a age of 85 n doing agriculture activity since from 20 years of age and till date he has not filed any income tax return yet.
so can i put the opening capital of 30 lacs or such higher figure on the basis that the income earned by him is tax free form the beginning
My client is having a age of 85 n doing agriculture activity since from 20 years of age and till date he has not filed any income tax return yet.
so can i put the opening capital of 30 lacs or such higher figure on the basis that the income earned by him is tax free form the beginning
Guest
Guest
(Expert)
24 June 2013
You must have some reasons to show any balance.
You may take help of bank balance as on last year, the assets you are showing in your balance sheet, their status of last year etc
You may take help of bank balance as on last year, the assets you are showing in your balance sheet, their status of last year etc
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
