cash accounting

Neeti (CA Final) (327 Points)

10 December 2010

HI FRIENDS

TELL ME , IS HUGE AMOUNT OF CASH DEPOSIT AND WITHDRAWAL NORMAL IN A BUSINESS TRANSACTION?

THANK YOU.

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2 Replies

CA Dauzi Pathan Imran Khan (Chartered Accountant in Practise) (1678 Points)
Replied 10 December 2010

Based on size of business and transaction, it will be normal..!!

While from auditing point of view it will lead to extensive chesking for the reasons..!!

While from taxation point of view, it will attract TDS provisions and may not be allowable if TDS is not deducted...!!!

Smile On...!!

(Guest)

Originally posted by : P IMRAN KHAN
	Based on size of business and transaction, it will be normal..!! While from auditing point of view it will lead to extensive chesking for the reasons..!! While from taxation point of view, it will attract TDS provisions and may not be allowable if TDS is not deducted...!!! Smile On...!!