sales turnover year :2018-2019 rs. 69 lacs
sales turnover year: 2019-2020 rs.80 lacs.
Assess income tax returns filed two years.books of accounting not maintained.
doubt:
Assess How much amount (minimum and maximum) capital and cash on hand and closing stock introduced opening balance as on 01-04-2018 i.t.return shown in balance sheet under I.t. act.
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Opening balance for capital and cash on hand
Replies (1)
It has to be on actual basis and based on books of accounts maintained for previous year.
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