CASH SHORTAGE FOR BANK ACCOUNT TRANSACTIONS

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This query is : Resolved

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A business taxpayer maintained records for only one bank account, but later discovered a second account through AIS and TIS data. Transactions from this second account were entered into the books after a cash balance shortage was identified. The query seeks guidance on how to adjust this cash shortage in the books, considering that individual cash sales were under £2 lakh and taking into account GST turnover.

Kollipara Sundaraiah online

Kollipara Sundaraiah online

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06 December 2021 SIR,
One of the business it assessee maintained single bank account books and it returns show.if assessee AIS and TIS information download recently another bank account detailes mentioned.2 nd bank account transactions entry passed in books after cash balance shortage in books.
Question:
1. Assessee maintained business accounts records single only.
2.How the adjustment cash balance shortage in books.