Profit adjustment

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seeta

seeta (Querist)
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02 December 2014 Sir,

provide me some tips to reduce the profit without cash on urgent basis

CS,CA F,Numrologi TusharSampat

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

seeta

seeta (Querist)
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02 December 2014 other than provision, bad debts, depreciation

CS,CA F,Numrologi TusharSampat

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

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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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)

CS,CA F,Numrologi TusharSampat

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

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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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

CS,CA F,Numrologi TusharSampat

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

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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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

CS,CA F,Numrologi TusharSampat

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

CA Kumar Mukesh

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

seeta

seeta (Querist)
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04 December 2014 how to generate cash

CA Kumar Mukesh

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