What are the points to be check in Cash & Bank book can you explain in detail with points checklist for Tax Audit workings.
Thanks Kiran
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Checklist with points to be explained for cash & Bank for Tax Audit
Replies (1)
1. Cash expenses more than 10000 per day to one person - Disallowance
2. Cash balance certificate/ letter/written representation
3. Bank balance as per bank vs Books and reconciliation statement.
4. Surprise cash balance check.
5. Cash withdrawal and deposit dates matching with bank statement.
6. Cash expense vouchers - supporting, authorization.
7. Entries done on holidays / sundays.
8. Negative cash balance on any day of the year.
2. Cash balance certificate/ letter/written representation
3. Bank balance as per bank vs Books and reconciliation statement.
4. Surprise cash balance check.
5. Cash withdrawal and deposit dates matching with bank statement.
6. Cash expense vouchers - supporting, authorization.
7. Entries done on holidays / sundays.
8. Negative cash balance on any day of the year.
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