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Cash receipt >20,000

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(Querist)
20 November 2011 Can a co-operative society receive contribution from its members in cash exceeding Rs.20,000?
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Kishanlal Paliwal

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Kishanlal Paliwal (Expert)
21 November 2011 1. Receiving the Cash is no problem.
2. It is against Contribution,not become a part of Revenue/Expenses.

Regards
K.L.Paliwal

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