10 January 2020
Details of cash and bank receipts/ payments are required to be given. How contra entries for cash deposit in bank or cash withdrawals from bank are to be treated while giving this information? Will deposits from cash to be shown as payments in cash and receipts in bank?
10 January 2020
Mention the opening balance of cash in hand, the opening balance of bank accounts and the total amount received in cash during the year, besides the total amount deposited in the banks during the year. Apart from that, the total amount of cash outflow, withdrawal from a bank account and closing balance of cash in hand and with the banks also need to be disclosed in the ITR form.
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