Assess a small business person.
sales turnover finicial year: 2018-2019 rs.69 lacs
sales turnover finicial year: 2019-2020 rs 80 lacs.
Assess I.t. return filed two years for the purposes of bank loan.
my doubt:
Assess How much amount capital and cash on hand opening balance as on 01.04.2018 shown in balance sheet I.t. returns under I.t. act.
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Opening balance
Replies (2)
It has to be shown as actual basis which depends on books of accounts.
Assess books of accounts not maintained.
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