A Gst registered dealer sales and purchases transcations upto date .dealer purchases of site value Rs: 16 lacs as on date:20-12-2020.present cash on hand balance RS:9 lacs asper books as on date:20-12-2020. question: dealer cash balance differnce Rs: 7 lacs amount 1.option: cash loan from different un secured loans received(each one rs:20,000/-) 2. option: credit sales different customers(1 lac*7 ) cash received from customers correct method.
2 Replies
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 27 December 2020
1 method not possible , cash loan limt per day , per ocassion , from one person Rs .20000
Kollipara Sundaraiah
(B.com)
(2986 Points)
Replied 27 December 2020
Cash loan 20,000/-*3 5 members different allowed cash received
Recent Topics
- CGST/SGST Input tax Classification in Tally Prime
- PREFERENCE SHARES - NBFC
- Vivad se vishwas scheme 2024
- List of banks for tax payments available at e-Pay
- Excess itc claimed then intrest applicable even if
- Financing for Properties and Businesses
- TAX DEMAND STILL SHOWING ON INCOME TAX PORTAL, EVE
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
Related Threads
CAclubindia
