Personal drawings expenses limit incase of Individuals
This query is : Resolved
Quick Summary
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
20 October 2021
No limit for such drawings, being proprietor.
20 October 2021
Ok, Thanks for your reply...
20 October 2021
You are welcome.....
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- CREDIT NOTES WITHOUT GST
- FORM 141 SDV query
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
