Accounting entry

145 views
User Avatar

Senior Accountant
22 Points Posted on 31 December 2020
we are giving daily basis small amounts to hijra and needy people from our shop amount how to taken into account
0 Reply Share Follow
On 31 December 2020 at 00:01 Report
Replies (2)
Quick Summary
This discussion addresses how to account for small, daily cash amounts given to the needy from a shop's funds. It suggests recording these as donations. However, it highlights a crucial point: cash donations exceeding Rs. 2000 may not be permissible and could be treated as drawings or disallowed for tax purposes.

User Avatar

Chartered Accountant
24588 Points Posted on 31 December 2020
You can show it as donation to needy people
1 Reply
On 31 December 2020 at 06:23
User Avatar

STUDENT
1631 Points Posted on 31 December 2020
If more than Rs .2000 as cash , not allowed as donation , then its goes not drwaings account or disallowed ..
2 Reply
On 31 December 2020 at 09:25

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sale of plots in open land
  2. Income tax query
  3. Best CA Inter coaching in laxmi nagar
  4. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  5. Unregistered Association of Persons (AOP) Agreemen
  6. Intimation u/s 245 of income tax act
  7. Ewaybill query
  8. IDS Refund: GSTR-2B Invoice Not Validated in State
  9. Self assessment tax paid not reflected in ITR2 fil
  10. Tax on nps corpus

More recent discussions | Post

Related Topics :

Loading