excess drawn advance refunded
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2010
An executive was given 1.0 lakh chq. to make business trip along with 2 assistants. He spends only 25 thousand and refunds 75000 in cash to the cashier of the company. The cashier accepts the amount and givea receipt. Is this refund by cash legal as per IT act. If so, should he give in the form of chq. Kindly clarify.
16 June 2010
Receving back the cash from the employee against his offical advance there is no legal provisions attract as per IT
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F
- Refund of Rs.4,00,000/- pursuant to Appeal Order – Deceased Proprietor & Closed Bank Account
- GST applicability on Shipping charges
- EPF RETURN FILLING
- Processing delay
- New old regime
- TAX TREATMENT OF COMMODITY
- GST Registration DELHI MUMBAI
- RCM PAYMENT OF APRIL 2025 NOT PAID IN YEAR AND NOW PAYING IN OCTOBER 2026 RETURN
- Registration of Educational Institution U/s 12A
- LLP audit under companies act
- Income tax return change regime form necessary or not?
- Experienced CA recommendation from Kolkata for FNO return filing
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
