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Transfer funds through cheque
A has a credit balance of B in his books And C has a debit balance of B in his books. B asks A pay the amount to C by cheque. A gives a cheque to C and debits the amount to B and C credits the same in the account of B. Is this justified and proper as per income tax laws.
Replies (1)
Yes it is very much allowed..the important thing in this transaction is that the proper entries should be made..that is it..
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