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Personal drawings expenses limit incase of Individuals

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(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
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 October 2021 No limit for such drawings, being proprietor.
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DIVYESH JAIN

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DIVYESH JAIN (Querist)
20 October 2021 Ok, Thanks for your reply...



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 October 2021 You are welcome.....

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