Cash Balance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2011
as per IT,wt happen if cash balance goes to -VE in the books.
Wt will be the impact??? on assessee???
Pls reply nd explain the same.
Wt will be the impact??? on assessee???
Pls reply nd explain the same.
15 March 2011
well if you are showing -ve cash in hand while finalisation balance sheet
1. No auditor will audit
2. 100% Case in scrutiny
3. its better if u had -ve cash ,took loan of less than 20000 from dummy people and show the payment as and when u got the + ve cash in ur books
1. No auditor will audit
2. 100% Case in scrutiny
3. its better if u had -ve cash ,took loan of less than 20000 from dummy people and show the payment as and when u got the + ve cash in ur books
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2011
as a auditor wt we have to check nd wt is our responsibility.
wt point to be more concentrate wen such type of transactions especialy -ve cash bal.
wt point to be more concentrate wen such type of transactions especialy -ve cash bal.
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