Income tax

cash paid shop rent 15000 monthly i know i cant claim in pandl account but entry konsi karu for accounting purpose
Replies (6)
Quick Summary
This discussion addresses how to account for a £15,000 monthly shop rent payment made in cash, which exceeds the £10,000 limit for direct P&L expenses under income tax rules. While the full amount may not be claimable in the P&L, the accounting entry involves debiting 'Shop Rent A/C' and crediting 'Cash A/C'. A suggestion was made to split the transaction for accounting purposes, potentially to better reflect the rules.

Shop rent a/c dr 15000
to cash a/c 15000
Head konsa hoga kyunki pand l m expenses allow ni h
Expenses upto Rs .10000 allowed to pay as cash!
Yes but mene cash 15000 dia h allow ni h pandl m to ab head konsa rakhu only forbaccounting purpose
You can part the transaction in two parts one for 10000 rupees and 5000 rupees under cash
Ok thanks

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