Limit of cash balance
This query is : Resolved
22 September 2016
There is a private limited company and the issue is related with the Ay 2016-17 [ Year Ending March 16 Fy 15-16 ]. Data of which are as follows as on 31st March 2016:
1) Export Sales Rs. 23.59 Crores
2) Cash Balance as on 31st March 2016 is Rs . 31.28 Lacs
Some one has told me that heavy cash balance in balance sheet of 31st March 2016 might be the one of the causes of the scrutiny. Please let me know how much should be maintained as at 31st March 2016.
1) Export Sales Rs. 23.59 Crores
2) Cash Balance as on 31st March 2016 is Rs . 31.28 Lacs
Some one has told me that heavy cash balance in balance sheet of 31st March 2016 might be the one of the causes of the scrutiny. Please let me know how much should be maintained as at 31st March 2016.
22 September 2016
Dear Tarique,
There is no such clause in the notification issued by CBDT for compulsory selection criteria of scruitny.
But if advisable not to keep such huge cash balance.
22 September 2016
Tks & Rgds How to maintain minimum cash balance because we are not aware of sales turnover. On the basis of the sales turnover of the previous year we estimate the projected expenses while working of advance tax. What to do now ? Please guide me how to estimate cash expenses.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
