banner_ad

Loss due to duplicate note

Others 574 views 3 replies

what will be the accounting treatment of loss due to dublicate note?

is it allowable expenditure under income tax act 1961?

Replies (3)

HI cant undersand your querry. what is duplicate note.

duplicate note means in hindi "fargi currency note" or counterfeited note or bla...bla

actually a company has a retail shop, it sells fruits in cash. during the deposite of cash, the bank  found some of the 1000 rs note were duplicate.  there is no possible way to trace out from where the cash was received so being  ultimate loss to company. so what will be the accounting treatment  in this regard and will it be allowble as per IT Act1961.

 

is there any one to help ?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details