CASH PAYMEN ENTRY

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2010 WE BOUGHT RAW MATERIAL ITEM IN CASH FOR AMOUNT 50000/- ON SAME DAY ,SUPPLIER INVOICING US IN THREE INVOICE AS 17000/-,17000/-,16000- FOR SAMEDATE WE PAID SAME AMOUNT ON SAME DAY & I PASSED ENTRY ON SAME DAY IN THREE SEPRATE VOUCHERS. IS IT CORRECT OR ITPOINT OF VIEW?

CA SMR

CA SMR (Expert)
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05 September 2010 YES

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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05 September 2010 yes. Sec.40A(3) applicable even aggregate payment made by cash more than Rs.20000 in a day

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2010 Sir please be specify that entry which i made on same day is correct or i should rectify & make new entry below 20000 payment on various day

Ram Avtar Singh

Ram Avtar Singh (Expert)
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05 September 2010 Please pay in different days, not in single day, otherwise Sec 40A(3) applicable.

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