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CASH DRAWING IN CAPITAL ACCOUNT

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2011 Dear sirs,

We have a HUF A/c and forgot cash withdrawl(in capital account) in June -11 which was Rs.7000/- per month. Can we post cash withdrawl Rs.14000/- in next month .i.e. in Jul-11 (For Jun. & Jul.).
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
17 July 2011
You can debit 21000/ also if you want to forget for the next month too, provided you are having sufficient cash balance in hand. It hardly matters in the case of HUF. Drawings are not like deductions. As per your requirment of HHE you may withdraw.
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