Sec 44ada professional income I.t. return filed assess cash on hand balance large amount Rs:30 lacs show in books at end of the finicial year as on 31-03-20.
question:
1.Assess large amount cash on hand balance allowed in I.t. act and any problems future.
2.how to adjustment procedure cash balance in books.
Menu
Large amount show in books cash
Replies (1)
Yes large amount of cash in hand will amount to problem if not adjusted by proof then it will be attract notice by assessing officer.
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
