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manjeeta modi

manjeeta modi (Querist)
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19 May 2016 can a company do cash transaction?

Amol S Joglekar

Amol S Joglekar (Expert)
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19 May 2016 yes, it may do so subject to disallowance provisions covered under income tax act

manjeeta modi

manjeeta modi (Querist)
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19 May 2016 if company do patty expense in cash, that is disallowed

Amol S Joglekar

Amol S Joglekar (Expert)
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20 May 2016 No, that is NOT the case. But there is a growing tendency, from good governance point of view, that corporates prefer cashless transactions.

manjeeta modi

manjeeta modi (Querist)
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20 May 2016 Thanx to reply. but I can't understand I explain the case, I have a pvt ltd n I m director . I was did patty expense in my personal a/c. how can I manage this transaction in company's a/c plz reply

Amol S Joglekar

Amol S Joglekar (Expert)
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20 May 2016 did you spend money from your personal account for the company? That is what you mean? In that case, you can submit the details to company and get the reimbursement from the company

manjeeta modi

manjeeta modi (Querist)
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20 May 2016 thanks for ur suggestion

Amol S Joglekar

Amol S Joglekar (Expert)
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23 May 2016 you are most welcome.

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