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in point 31(a) of tax audit, what is meaning of maximum outstanding amount any time during year can someone explain? I am taking closing balance of account whether it is right or wrong?
Replies (2)
As per point 31(a) related to 269SS -
maximum o/s amount is not closing balance.
You analyse full Account of each loan taken açcount (ledger balance as of each date of the FY.
The day on which ledger balance is highest or maximum , then that balance will be right for 31(a) point in 3CD
maximum o/s amount is not closing balance.
You analyse full Account of each loan taken açcount (ledger balance as of each date of the FY.
The day on which ledger balance is highest or maximum , then that balance will be right for 31(a) point in 3CD
thanks for clarification
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