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Profit adjustment

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(Querist)
02 December 2014 Sir,

provide me some tips to reduce the profit without cash on urgent basis
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
02 December 2014 u can claim more depreciation or increases bad debts provisions or any other provision
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seeta

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seeta (Querist)
02 December 2014 other than provision, bad debts, depreciation
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
02 December 2014 there is no other way for adjustment without changing or affecting cash balances.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
03 December 2014 You can take cash gifts upto Rs. 50,000 from anyone and may take cash loan from relative of the assessee upto reasonable amount.

Relatives are defined under section 56(2)(vii)
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
03 December 2014 Mr kumar correct yourself and read the query properly where seeta is asking about non cash adjustments.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
03 December 2014 Dear Mr. Sampat I am telling him to the way to generate cash so that cash expenses can be claimed as he already mentioned that he does not have sufficient cash balance to reduce the profit
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
03 December 2014 dear mr kumar i agree that but then she is asking for no cash adjustment on urgent basis.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
03 December 2014 You are again misquoting, query is related to reducing the profit in case of insufficient cash balance.

In that case we first generate cash in books and then claim cash expenditure
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
03 December 2014 u read last 4 words of quesry "without cash on urgent basis/
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
03 December 2014 I thing we have already discussed the matter in depth, so let questioner has to judge.
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seeta

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seeta (Querist)
04 December 2014 how to generate cash
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
04 December 2014 I have already mentioned the same go through the earlier reply
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