Cash in hand -deposits
This query is : Resolved
11 November 2016
You can deposit old notes in your bank account without any limit. However you should keep in mind the cash in hand with you in books of accounts.
So, my question is, which dated cash in hand has been consider for deposits of cash. (08/11/2016 or 30/12/2016.)
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CA R SEETHARAMAN
(Expert)
12 November 2016
It is cash on hand as on 08/11/2016.
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13 November 2016
If in case, we received older currency for supply of good to customers after 09/11/16 or sales after the band dated. Shall we deposit older currency into bank or What kind of treatment should take.
CA R SEETHARAMAN
(Expert)
13 November 2016
You should not accept old currency after 8th.
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