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.
Interactive Media Pvt Ltd.
New Delhi
CA Inter
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Gowra Ventures Pvt Ltd
Hyderabad
CA
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