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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- ITC BENEFIT ON BROKRAGE PAID
- TDS refund Indemnity Bond
- DUE DATE FOR ITR FILING
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- GST ISD Query on various AMCs
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
