Rule 6d – payment of more than rs 20,000/- in cash
This query is : Resolved
02 August 2012
Dear sir,
Please guide me
Our firm made payment more than Rs.20,000/- payment in every day to single person so
in our accounting shown cash amount to that person every day more than 75,000/- how to pass entries in the day.
Regards
Ramesh
Please guide me
Our firm made payment more than Rs.20,000/- payment in every day to single person so
in our accounting shown cash amount to that person every day more than 75,000/- how to pass entries in the day.
Regards
Ramesh
Amol S Joglekar
(Expert)
02 August 2012
What is the problem? Entry does not allow or disallow at the time of entering. PAss the entry as usual. It will be the job of AUDITOR to find out the disallowance.
CA Prashant Gupta
(Expert)
02 August 2012
you can make many vouchers so that every voucher came below 20,000/-. This is the best you can do. like if you pay 75000/- in a single day. then make voucher 19000 + 19000 +19000 + 18000. So you can show that no single transaction is more than 20000/-
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