Cash basis accounting
This query is : Resolved
04 June 2013
Dear Friends
Can a Section 25 Company maintain its books of accounts on cash basis???
Because as per the Companies Act Companies are required to maintain the books of accounts on accrual basis
however generally Non for profit organisation maintains the accounts on cash basis only
Please advice
Can a Section 25 Company maintain its books of accounts on cash basis???
Because as per the Companies Act Companies are required to maintain the books of accounts on accrual basis
however generally Non for profit organisation maintains the accounts on cash basis only
Please advice
04 June 2013
It is not allowed. Violation of Section 209(3) is there. Other Views are also welcome
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
