it assess running a two business it returns filed in f.y.20-21.
1.jewellery shop rs:5 lacs cash on hand balance as on 31-03-21
2.money lending business rs:12 lacs cash on hand balance as on 31-03-21 show in books
question:
1.cash on hand balance rs:12+5 total rs:17 lacs allowed in it act
2.any limit applicable in it act.
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It query for cash balance
Replies (1)
1. Yes, allowed subject to justification
2. No limit in having cash balance; but yes, while cash receipt or payment..
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