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Cash deposit entry

This query is : Resolved 
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(Querist)
18 November 2017 There is a cash deposit in bank everyday. If i want to pass one consolidated journal entry at the end of the year for all cash deposit during the year, does income tax officer have any problem?
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Parv Kumar

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Parv Kumar (Expert)
18 November 2017 Yes there may be as it is not right way of accounting.....
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RAJA P M

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RAJA P M (Expert)
18 November 2017 No... It's not good practice... You ll be enter daily basis or Weekly basis...
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Amitav

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Amitav (Expert)
18 November 2017 It's not allowed to pass the consolidated entry..

Also you will not be able to show your books of account and cash book mainly. which should be followed as on when the transactions happens on cash basis or accrual basis.
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