Client ask, you say for e.g. net profit 5,00,000..
where it is?
they say I don't have that much cash/bank..
they don't account for non-cash items.
they say I purchase the material, process and sell it.. so profit should be in my hand..
purely cash items...
No provision, no depreciation.. nothing...
How it's possible ?
ask client regarding assets used in business n for processing goods
so u cn claim depreciation on it
also if client is not having that much cash or bank balance ( as u mentioned) then how is he running business?
CAclubindia
