Sec 44ada professional income I.t. return filed assess cash on hand balance large amount Rs:30 lacs show in books at end of the finicial year as on 31-03-20.
question:
1.Assess large amount cash on hand balance allowed in I.t. act and any problems future.
2.how to adjustment procedure cash balance in books.
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 30 January 2021
Yes large amount of cash in hand will amount to problem if not adjusted by proof then it will be attract notice by assessing officer.
Recent Topics
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
Related Threads
CAclubindia
