Please Help: NEGATIVE CASH BALANCE
Posted Date : 25-Jun-2011 , 11:36:17 am | Posted By: Alok
Category :
Income Tax | Answers :
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My friend has started business of ready made garments from 01/10/2010. Since he doesn't have any knowledge about taxation and accounting he has deposited cash more than Rs.400000/- and all his debtors are paying him on chq. he has never filed IT return ever before. Before starting Business he was doing Job (from F.Y.2005-06 to F.Y.2008-09).
Please sir help me to guide him in proper direction.
Thank You
Alok Shah |
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Answers:
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 Answer by: CA VIKAS JAIN |
| Dear, what you want to ask, its not clear from given information.
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| Answer by: Anjali Arora |
| Prop can introduce Cash as Capital & he can take Cash Loan from diff diff Friends or relatives less then 20,000. One more option to take Cash Gift from Relatives.
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| Answer by: CA. Sachin Data |
| Please brief it more.....
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| Answer by: CA ANKUR KAPIL |
| he can introduce as capital by taking cash loans.
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