Urgent
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2013
Dear Sir,
There is a assessee who runs maths tution classes and his receipts are Rs. 115000/- and his routine expences are incurred by his family. As the above case is no account case and while filing part BS (balance sheet), whether the whole amount of Rs. 115000/- can be show in cash in hand or not?
Please advise me.
There is a assessee who runs maths tution classes and his receipts are Rs. 115000/- and his routine expences are incurred by his family. As the above case is no account case and while filing part BS (balance sheet), whether the whole amount of Rs. 115000/- can be show in cash in hand or not?
Please advise me.
08 July 2013
Here cash in hand means - cash available with assessee on last day of the financial year i.e on March 31st..
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2013
Suppose he did not invested it anywhere then all receipts can be shows as balance cash in hand.
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