Urgent

vishal kapoor (a) (66 Points)

29 April 2013  

HELLO FRIENDS,

PLS. TEEL ME MY CLIENT DEALS WITH AN IMMIGRATION BUSINESS IN WHICH HE RECEIVES CASH FROM THE CLIENTS IN LAKHS ALSO AND DEPOSITED THE NEXT DAY INTO HIS BANK A/C AND AFTERWARD IT ISSUES CHEQUES FOR IMMIGRATION OF LESSER AMT. SUPPOSE HE RECEIVES100000 CASH FROM CLIENT AND DEPOSITED INTO THE BANK NEXT DAY AND AFTER A WEEEK HE DRAWS A CHEQUE FOR FEES FROM HIS ACCOUNT OF90,000. AND THE BALANCE IS HIS INCOME.

PLS. TELL ME THE ACCOUNTING TREATMENT AND PLS. TELL IS THIS PRACTICE OK. WHETHER HE CONTINUES TO RECEIVE CASH FROM HIS CLIENTS. OR I ASK HIM TO SAY THE CLIENT TO DEPOSI DIRECTLY INTO HIS BANK ACCOUNT AND HE MAKES A DD  RATHER THAN ISSUING CHEQUE AND PROVIDE THE BILL FOR ONLY SERVICE CHARGES TO HIS CLIENT. PLS. HELP ME.