Personal drawings expenses limit incase of Individuals
This query is : Resolved
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DIVYESH JAIN
(Querist)
20 October 2021
Dear Sir,
My personal balance sheet is showing cash in hand of around Rs. 4 lacs and I want to reduce the amount. I do business under my name as a proprietor.
I want to reduce the cash balance by showing personal drawings in cash. Is there any limit in showing Personal drawings amount. My return is filed U/s. 44AD.
Please help me in this matter.
Regards,
Divyesh Jain
My personal balance sheet is showing cash in hand of around Rs. 4 lacs and I want to reduce the amount. I do business under my name as a proprietor.
I want to reduce the cash balance by showing personal drawings in cash. Is there any limit in showing Personal drawings amount. My return is filed U/s. 44AD.
Please help me in this matter.
Regards,
Divyesh Jain
CA R SEETHARAMAN
(Expert)
20 October 2021
No limit for such drawings, being proprietor.
DIVYESH JAIN
(Querist)
20 October 2021
Ok, Thanks for your reply...
CA R SEETHARAMAN
(Expert)
20 October 2021
You are welcome.....
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