Accounting entry

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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
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On 31 December 2020 at 00:01 Report
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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.

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Chartered Accountant
16188 Points Posted on 31 December 2020
You can show it as donation to needy people
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On 31 December 2020 at 06:23
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STUDENT
1120 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

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