Profit adjustment
This query is : Resolved
02 December 2014
Sir,
provide me some tips to reduce the profit without cash on urgent basis
provide me some tips to reduce the profit without cash on urgent basis
02 December 2014
u can claim more depreciation or increases bad debts provisions or any other provision
02 December 2014
there is no other way for adjustment without changing or affecting cash balances.
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)
Relatives are defined under section 56(2)(vii)
03 December 2014
Mr kumar correct yourself and read the query properly where seeta is asking about non cash adjustments.
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
03 December 2014
dear mr kumar i agree that but then she is asking for no cash adjustment on urgent basis.
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
In that case we first generate cash in books and then claim cash expenditure
03 December 2014
u read last 4 words of quesry "without cash on urgent basis/
CA Kumar Mukesh
(Expert)
03 December 2014
I thing we have already discussed the matter in depth, so let questioner has to judge.
CA Kumar Mukesh
(Expert)
04 December 2014
I have already mentioned the same go through the earlier reply
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