44AB AUDIT (CASH RECEIPT AND CASH PAYMENT)
This query is : Resolved
24 June 2023
Under Section 44ab
I have query about Cash Payment and Cash receipt should be below 5%
Does cash withdrawal and cash deposited transaction will also consider as Cash receipt and cash payment. ?
Note : Assessee has received all sales receipt through Netbanking.
Please advise while calculating 5% of cash receipts do we need to include cash withdrawal in total receipts ??
I have query about Cash Payment and Cash receipt should be below 5%
Does cash withdrawal and cash deposited transaction will also consider as Cash receipt and cash payment. ?
Note : Assessee has received all sales receipt through Netbanking.
Please advise while calculating 5% of cash receipts do we need to include cash withdrawal in total receipts ??
24 June 2023
Cash withdrawal from bank accounts is not considered under cash receipts.
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