Dear All,
If a company has huge cash in hand balance at the end of the financial year, is that company required to pay any tax on that cash in hand balance at the end. If not is there any problem of having such huge balance, what are the consequences?
Please reply as early as possible
well there is no tax on cash balance appearing in balance sheet at the end of Fy.
and there are no consequences to that but it is advisable to keep cash balance as commenserate to the size of business as any excess would draw suspesion.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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