Accrual or cash method


This query is : Open 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
16 October 2015 Is withdrawal relating to a particular year is admissible in that year itself irrespective of whether it is actually received or not, or only cash method of withdrawal is valid ?

Please Help.

16 October 2015 IT is allowed as per the method of accounting employed. If the method is CASH, then cash withdrawls are accounted for as and when actually received.

16 October 2015 Sec 145 permits accrual or cash method ( only for professionals)and permitted to be admissible in year of withdrwaal

16 October 2015 Please provide more information regarding withdrwal.- bank withdrwal or transfer to some one else account or whatever it is

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
17 October 2015 someone else account

17 October 2015 Show it as advance for something...

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 October 2015 what is difference in accounting entry if it is bank withdrawal or less from owners'capital account


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details