Cash in hand
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2016
In one of the case cash in hand as on 8th Nov. was Rs.20 las odd, as per the books maintained by the assesee, in his individual capacity, but in actual there is no physical cash in hand.
How to proceed in the above case for the current situation?
How to proceed in the above case for the current situation?
CA R SEETHARAMAN
(Expert)
23 November 2016
Find out the error and correct the books.
24 November 2016
it appears that expenses in cash have not been duly recorded in the books. Hence pass the entry for the expenses in cash either for purpose of business or for drawings in personal capacity.
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