Sir, Please tell if a person having turnover Rs 15lakh can he have the cash in hand Rs10lakh.
16 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 01 April 2017
Practically not possible, if TO is per annum.
Peter
(Article Assistant)
(118 Points)
Replied 01 April 2017
Y not ... you are doing business on credit basis. u are getting credir from ur suppliers also. So cash can be there with you.
Ali Ahmed Khan
(CA Student)
(245 Points)
Replied 01 April 2017
will it be possible to show exp on credit basis above Rs 5lack (Rs 15 lacks lack minus 10 lack cash in hand)?
HIMANSHU GUPTA
(Sr. Accounts Executive)
(97 Points)
Replied 01 April 2017
if you are having cash in hand of Rs. 10 Lakh, then how are you meeting your expenses??
Bhagya Shri Tripathi
(chief executive officer)
(27 Points)
Replied 02 April 2017
sir if in a hospital, total receipt exceeds rs. 200000/- and the whole amount is received in cash from a single patient, then is sec 269st is got attracted or not
Peter
(Article Assistant)
(118 Points)
Replied 02 April 2017
If a person has tAken loan also he can have cash balance at the end if the year
CA CMA Sagar Jaiswal
(Finance professional)
(665 Points)
Replied 02 April 2017
If cash in hand will be 10 lakh then in capital side must be equal to cash in hand. It may be long term loan, sundry creditors or any other liability
Ali Ahmed Khan
(CA Student)
(245 Points)
Replied 02 April 2017
As per Sec 269ST If cash is received by Hospital above specified limit in his case Rs 2 lakhs, then section is violated ,,
if sufficient reason for accepting cash is proof then relief shall be granted against penalty of provision.
if sufficient reason for accepting cash is proof then relief shall be granted against penalty of provision.
Arun Gupta
(Tax Professional )
(222 Points)
Replied 03 April 2017
U can show that u r running business and getting cash from debtors
Ashim kr Ray
(social service)
(1695 Points)
Replied 03 April 2017
Sir,
Total turnver is Rs 15lak but capital for last year has been increase for which cash in hand also increase to 10 lakh.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 03 April 2017
What was the cash in hand in last balance sheet?
Ashim kr Ray
(social service)
(1695 Points)
Replied 03 April 2017
in last balance sheet turnover is 900000lak and cash in hand is rs 22712
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 03 April 2017
Can you make a cash flow chart from opening balance of Rs. 22,712 to 10 lakhs balance as on 8th November, 2016?
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