regarding cc limit a/c???????????
This query is : Resolved
14 February 2010
hiiii my frnd done enquiry in bank @ requirement for openning a cc limit a/c. bank manager told him tht they require balance sheeet of his shop.my frnd not come in sec. 44AB of income tax act.
so can anyone tell me tht which b/s he need to produce to bank,audited(CA SIGHNED) OR self prepared(without CA SIGHNED)....plzzzzzzz
so can anyone tell me tht which b/s he need to produce to bank,audited(CA SIGHNED) OR self prepared(without CA SIGHNED)....plzzzzzzz
14 February 2010
For Bank CC Limit..they r just required to submit the Balance Sheet u prepared for ur business, for filling ur IT return.
If, you are not in the Audit Limit, then it is not compulsary to get it audited to get CC Limit.
Also, if u can get it signed from a CA, then it will be more beneficial and provides more assurance to the bank.
If, you are not in the Audit Limit, then it is not compulsary to get it audited to get CC Limit.
Also, if u can get it signed from a CA, then it will be more beneficial and provides more assurance to the bank.
14 February 2010
Dear lokesh
For CC limit bank required balance sheet, but no necessary signed by CA. But if sign by CA have added advantage of trust. You prepare balance sheet in line with your friend income tax return.
For CC limit bank required balance sheet, but no necessary signed by CA. But if sign by CA have added advantage of trust. You prepare balance sheet in line with your friend income tax return.
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