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How to adjust huge cash under what head

Mujeeb Ahmed (Accountant) (38 Points)

20 October 2012

Sir, I have huge cash but i am unable to adjust, please suggest how to adjust and in what Head of Account as per Income tax law, without any trouble.

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10 Replies

CA AYUSH AGRAWAL (Kolkata-Pune-Mumbai) (26986 Points)
Replied 20 October 2012

This is Unethical Practice.

Please Dont Ask Such Queries Here.

Consult Your Consultant Only.

Archana Das (CA Final student) (622 Points)
Replied 20 October 2012

Originally posted by : CA AYUSH AGRAWAL
	This is Unethical Practice. Please Dont Ask Such Queries Here. Consult Your Consultant Only.

yusufsahibmaricar (Office Manager Cum Accountant) (40 Points)
Replied 20 October 2012

You must be clarify with your Auditor. If you did not yet an Auditor. Go and get an Auditor first.

1 Like

(Guest)

Show Advance for supplier or give loans (through a/c payee chq), pay crds (upto 20000)

CA. Vikash Dwivedi (Financial Planning & Analysis) (3167 Points)
Replied 21 October 2012

dig out your books of accts there must be sonthing which yu forgot to record.

yu r not keep proper books of accts. Even if you adjust the ITO would trace the fact, if he scrutinise seriously. you can fabricate one entyr not entire records. Trail of transaction will expose your intentions of hiding truth.

Aarush (Delhi) (1566 Points)
Replied 22 October 2012

Originally posted by : CA AYUSH AGRAWAL
	This is Unethical Practice. Please Dont Ask Such Queries Here. Consult Your Consultant Only.

Dear Ayush, What is wrong of asking such question ?

Most of us know ethics of practices..

Most of the professional doing this excercise for thier most of the clients..

Ahmed,

A best answer will execute only after scruity of your company's books of accounts and a brief profie of company.

You can share trial balance at cma.gauravaggarwal @ gmail.com, i guess i can suggest you something.

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Aarush (Delhi) (1566 Points)
Replied 22 October 2012

Originally posted by : sonu
	Show Advance for supplier or give loans (through a/c payee chq), pay crds (upto 20000)

On what basis ?

how it will settle after that ?

KARANDEEP,CA,B.Com,CS FNL (JOB) (457 Points)
Replied 22 October 2012

Originally posted by : Gaurav Aggarwal
	Originally posted by : CA AYUSH AGRAWAL This is Unethical Practice. Please Dont Ask Such Queries Here. Consult Your Consultant Only. Dear Ayush, What is wrong of asking such question ? Most of us know ethics of practices.. Most of the professional doing this excercise for thier most of the clients.. Ahmed, A best answer will execute only after scruity of your company's books of accounts and a brief profie of company. You can share trial balance at cma.gauravaggarwal @ gmail.com, i guess i can suggest you something.

Agreed with Gaurav for both the reply.

without company profile,its not possible to suggest you for the adjustment.

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Kamlesh (Article Assistant) (137 Points)
Replied 22 October 2012

Dear CA Ayush, So what questions should be asked here? Someone is asking right question at right place. And this thing forms part of the finalisation of small firms while setteling GP. Its not to be ignored. From where otherwise this things should be learnt,from engineering books?. I also have registered here for getting knowledge purpose only.

If its a labour based industry, You can adjust cash with Wages A/c provided you also make receipts and wages register.

In case you go for loans and advances, there arises problem of cross verification.

1 Like