sec 44ada professional income it return filed assess cash on hand balance large amount show in books as on dt: 31-03-21.my doubt cash on hand balance at the ending of finicial year 31st march any limit prescribed any provision under it act.
As per the Income Tax Act, there is no maximum limit for the amount of cash a person can have at his disposal. Therefore, there are no such restrictions for Cash in hand as long as you have a valid explanation (that is acceptable to IT dept.) of your cash holdings, i.e to explain the source of income.
Business assess cash in hand limit (ex:10 or 5 or 15 lacs)
Professional assess cash in hand hold limit at the end of finicial year (ex:2 or 4 or 6 lacs) prescribed in it act