Cash capital

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Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2015 Dear expert
in partnership firm can i bring one lacs cash capital in the firm

plz reply...

Akash Mishra

Akash Mishra (Expert)
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26 May 2015 yes, you can bring cash as a capital and there is no bar on bringing Cash. Provided the source should be explainable to the authority, in case the question is asked. and if audit is done detailed account of cash with spending should be disclosed. it should be availaible for Physical verification by auditors in case it is covered under audit