Cash on hand balance hold limit

sec 44ada professional income it return filed assess cash on hand balance large amount show in books as on dt: doubt cash on hand balance at the ending of finicial year 31st march any limit prescribed any provision under it act.

Hi @Sundaraiah_Kollipara

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.

Thanks reply
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