Cash Transaction

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21 Points Posted on 20 January 2020
Proprietor can give and take any amount in cash from its sole proprietorship firm??
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On 20 January 2020 at 18:04 Report
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Quick Summary
This discussion explores the ability of a sole proprietor to conduct unlimited cash transactions within their business. While there's generally no legal limit on cash movement, participants raise concerns about the fairness and transparency of using cash to cover shortages, especially regarding potential 'window dressing' of accounts. It's advised to consult a professional for guidance on proper accounting practices.

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"Do the Right Thing...!!!"
128157 Points Posted on 20 January 2020
I think Yes...


Wait others view...
1 Reply
On 20 January 2020 at 19:12
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Profession
28261 Points Posted on 20 January 2020
There is no limit to it....
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On 20 January 2020 at 19:29
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21 Points Posted on 21 January 2020
There is any clause or sections
please guide me fully
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On 21 January 2020 at 18:13
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76 Points Posted on 21 January 2020
Yes proprietor can do transactions without any limit.
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On 21 January 2020 at 23:50
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21 Points Posted on 22 January 2020
But question is cash minus or shortage during the year can be solved by this way, is it fair?
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On 22 January 2020 at 08:41
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17269 Points Posted on 22 January 2020
No answers for fudging of Accounts
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On 22 January 2020 at 23:48
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76 Points Posted on 23 January 2020
Yes proprietor can bring the cash in business at any time. shortage of cash can be tackled by this way.
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On 23 January 2020 at 08:15
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"Do the Right Thing...!!!"
128157 Points Posted on 23 January 2020
But question is cash minus or shortage during the year can be solved by this way, is it fair?


- May be yes. But, Source of amount will be explain at the time of rectification/scruitny...
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On 23 January 2020 at 08:16
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Profession
28261 Points Posted on 05 March 2020
In a sole proprietor firm..
there is no such limit.



someone is speaking of fudging of accounts ..


do u know the meaning of window dressing of accounts..
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On 05 March 2020 at 18:30
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17269 Points Posted on 06 March 2020
I request let this open forum not be mis-used for such fudging type queries.

Chintan, you are kindly requested to contact any nearby consultant.
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On 06 March 2020 at 00:26

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