Cash book in minus

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Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2011 credit cash in hand found in one day in cash books. what the tax & penalities as per income tax

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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06 December 2011 Total amount which is as credit cash will be added as income for tax purpose.
OM SAI SRI SAI JAI JAI SAI

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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06 December 2011 Please check the previous days transactions relating to payment and if any possible to change for the next days or check the next days transactions relating to receipts if any possible to change for the previous days.
It is very serious case and situation it shows your accounts is not correct and it is irregular and involves fraud.
Please once check all the transactions and consult your auditor to the possible ways to rectify and how to do it.
OM SAI SRI SAI JAI JAI SAI

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