Dear All,
Can any one suggest me on which type of cash payment does not required bills and done with cash voucher with authorised signatory.
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Bills not required for cash expenses.
Replies (3)
If the amount is small and reasonable enough to understand its genuineouness then its okay but as far as accurate and appropriate accounting is concern kindly ask for the bills if amount is large because there is possibility that it may attract TDS or others.
Hi Soumya,
It depends on the materiality of the nature of expenses.But its always best to have a log of all cash bills to the extent possible.I hope this resolves your issue.
Regards
In my view, bill is required (practically possible) for every penny spent irrespective of mode I.e. cash or bank.
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