subhashis bag (Electrical Engg) (55 Points)
14 November 2016If I start start transaction in our current ac of my partnership farm daily depositing 2 lac and withdraw maximum amount on next day for next 60 days. Total deposit amount can be 1cr and withdraw also 1 Cr. How can I show this in business file and what can be the consequences?if I show only 2-3 lack profit on this transaction what can happen?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174190 Points)
Replied 15 November 2016
Records of all the income expenditure vouchers would be verifed. May be audit report of the accounts be asked.
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