Total cash balance for presumptive income

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2017 Whether Total cash balance for Presumptive income should include both cash in hand & bank balance or only cash in hand?

RAJA P M

RAJA P M (Expert)
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28 July 2017 Both - Cash in Hand and Cash at Bank.... It's following all ITR.... Not only Presumptive Taxation.....

Anand

Anand (Expert)
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01 August 2017 Hi PM Raja i think it should only be cash in hand.

RAJA P M

RAJA P M (Expert)
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01 August 2017 No...
Cash balance means "Cash in Hand & Cash at Bank"

Anand

Anand (Expert)
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01 August 2017 is this clarified anywhere because if that were the case the balance sheet wouldnt have two line items showing cash on hand and balance at bank

RAJA P M

RAJA P M (Expert)
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01 August 2017 Cash balance means "Cash in Hand & Cash at Bank" or "Total Cash and Cash Equivalents"....

RAJA P M

RAJA P M (Expert)
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01 August 2017 Oh Sorry Mr. Anand Sir... I also wrong and Wrongly replied.... I accept it without notice.... Only cash is in cash balance.....

RAJA P M

RAJA P M (Expert)
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01 August 2017 It's also wrongly replied......

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