Large cash in Hand
ANIL TRIPATHI (8 Points)
12 January 2021How to adjust large amount of Cash In Hand while finalizing Balance sheet?
What might be the consequences if declared "as it is" in Balance Sheet?
Pls help me out
Thanks
ANIL TRIPATHI (8 Points)
12 January 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 12 January 2021
When I learned Cashflows statement, the cash and equivalents do hold cash in hand. A cash flow statement is prepared from income and balance sheet statement. There will be no consequences if you declare it in the balance sheet as per my opinion
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 12 January 2021
ANIL TRIPATHI
(8 Points)
Replied 12 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 12 January 2021
ayusmita
(Tax consultant)
(5885 Points)
Replied 12 January 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 12 January 2021
“You are not required to disclose your personal assets in the ITR-4. Only assets held for business purpose are required to be shown in the ITR-4. You can show Nil (Zero) value in respect of Sundry Creditors, Inventories, Sundry Debtors, Cash in hand etc. There will be no error on validation and you can file your return.”
You have info in 5is link, hope it helps you: https://www.taxfull.com/12457/providing-financial-particulars-in-itr-4-sugam
ayusmita
(Tax consultant)
(5885 Points)
Replied 12 January 2021
ANIL TRIPATHI
(8 Points)
Replied 12 January 2021
ayusmita
(Tax consultant)
(5885 Points)
Replied 12 January 2021
Kapadia Pravin
(17249 Points)
Replied 12 January 2021
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 16 January 2021
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