Fake notes
This query is : Resolved
02 February 2013
Hii Friends,
One of our client has received Fake note from its customer...And they booked it under cash payments under misc exp Head is it Right treatment? How it should be treated?
THANKS IN ADVANCE
One of our client has received Fake note from its customer...And they booked it under cash payments under misc exp Head is it Right treatment? How it should be treated?
THANKS IN ADVANCE
08 February 2013
Any reduction of cash has to be accounted only in two ways i.e. either as a payment or as a deposit in books.
Hence, write off the fake currency will be shown as a cash payment in books.
If the amount is not material, it may be shown under misc exp. But if the the amount is material / if u think it has to be disclosed separately, then show it under write off of cash.
Hence, write off the fake currency will be shown as a cash payment in books.
If the amount is not material, it may be shown under misc exp. But if the the amount is material / if u think it has to be disclosed separately, then show it under write off of cash.
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
- Fixe term employment
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Experts need help
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EPF FULL & FINAL RULES IN 2026
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
