Cash transaction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2012 Kind attn. Shri Ayush Agrawal

Resp. sir,

If there is cash withdrawal from bank which missing at the time of finalization of account. what will be the tax liability in this case.

Regards
Anant

CA Prashant Gupta

CA Prashant Gupta (Expert)
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08 November 2012 I know this is for Shri Ayush Agrawal
but after seeing the Question I am also replying.
if you withdraw cash from bank and left it in B/s. Then how your B/s was matched. because bank balance was definetly tallied with bank statement if your accounts are audited. but if cash and bank both are from books and this transaction is left then there is no tax liability. because it doesn't effect Profit and loss it will effect only balance sheet.

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