Cash transaction account head

438 views
User Avatar

back office asst
254 Points Posted on 03 October 2023
Sir,
With reference to the above please advise we have given cash to a officer as a bribe, which account head we entry this transaction
0 Reply Share Follow
On 03 October 2023 at 17:09 Report
Replies (2)
Quick Summary
This discussion addresses the difficult question of how to account for a cash transaction involving a bribe. The consensus is that such a transaction is illegal and cannot be formally recorded in company books. While not advisable, some suggest it might be discreetly absorbed into general office overhead over time, rather than booked under misleading expense categories.

User Avatar

"Do the Right Thing...!!!"
128157 Points Posted on 03 October 2023
Ohh God...

It's not legal...
So, It's not possible to account in books...


Also it's open forum, not good to discuss in .....
Reply
On 03 October 2023 at 17:38
User Avatar

Profession
28271 Points Posted on 03 October 2023
Do not book as miscellaneous expenses or promotional expenses it's generally audited.
Better to show as office overhead over a period of few days depending upon the credibility.
1 Reply
On 03 October 2023 at 18:35

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidence requested for a Finance Professional with
  2. Expert Opinion Required – Form 140 Gross Amo
  3. WRONG TAX DEMAND - formal responses , rectificatio
  4. Foreign remittance
  5. Affordable Residential Flats in Gurgaon
  6. Manufacturing
  7. TAN REGISTRATION ON E-FILLING SITE
  8. Form 10-IEA – Continuing Old Regime
  9. Income tax act 2026
  10. Belated Return where Form 10IEA filed this year to

More recent discussions | Post

Related Topics :

Loading