payment through C.B.S.
This query is : Resolved
manoj agrahari
(Querist)
08 September 2008
I Bussines garment total purchase credit basic suppose that my 1 purchase bill 80000/-
& supplers ask 80000/-Cash deposit my C.B.S.A/C
1-What accounting entry in puurchaser book
2- cash deposit exceed 20000/-ka kya hoga
& supplers ask 80000/-Cash deposit my C.B.S.A/C
1-What accounting entry in puurchaser book
2- cash deposit exceed 20000/-ka kya hoga
CA Pawan Goswami
(Expert)
08 September 2008
At the time of purchase:-
Purchase A/c Dr. 80000
To Supplier's A/s 80000
At the time of Payment:-
Supplier's A/c Dr. 80000
To Cash A/c 80000
Cash deposited in excass of Rs. 20000 will be disallowed u/s 40A(3) of I.T. Act.
Purchase A/c Dr. 80000
To Supplier's A/s 80000
At the time of Payment:-
Supplier's A/c Dr. 80000
To Cash A/c 80000
Cash deposited in excass of Rs. 20000 will be disallowed u/s 40A(3) of I.T. Act.
CA Rajesh S
(Expert)
10 September 2008
Cash deposited in excess of Rs. 20 K will be disallowed u/s 40A(3)
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