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Manu (Mr) 13 June 2019
Thanks for your reply.
The balance was due to FD (fixed deposit) that matured. I did not renew the FD so there was some excess balance.
Should i leave the "balance in bank E21" column empty to avoid any problem? it is not mandatory to fill that column.
Ajay Gupta (PRACTICING CHARTERED ACCOUNTANT) 19 June 2019
Dear Manu - In normal scenario bank balance would be less than or equal to turnover. There must be some abnormal transactions, which would have increased the bank balance.
Please possess appropriate documentation for these transactions and do ensure appropriate treatment in ITR. If these two things are followed by heart, then we can respond to any sort of query from the IT department.