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excess cash in march

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 May 2010 In the middle of march and amount of Rs. 3.0 lakhs was withdrawn for making miscellaneous payments. However no payments were made. The cash was lying in the cash box. The same was utilised in april and may this year. My question is whether cash of Rs. 3.0 lakhs can be kept in cash box for 15 days without making any payment and show also the balance of 3.0 lakhs in balance sheet.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
29 May 2010 Yes, there is no limit on keeping of cash balance.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
29 May 2010 Any amount can be kept as cash in hand till the time the cash is genuine.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
29 May 2010 agree, no problem

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