excess cash in march
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2010
In the middle of march and amount of Rs. 3.0 lakhs was withdrawn for making miscellaneous payments. However no payments were made. The cash was lying in the cash box. The same was utilised in april and may this year. My question is whether cash of Rs. 3.0 lakhs can be kept in cash box for 15 days without making any payment and show also the balance of 3.0 lakhs in balance sheet.
29 May 2010
Yes, there is no limit on keeping of cash balance.
Aditya Maheshwari
(Expert)
29 May 2010
Any amount can be kept as cash in hand till the time the cash is genuine.
CA Ashok Kumar Sahu
(Expert)
29 May 2010
agree, no problem
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