Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

CONSTRUCTION EXPENSES IN CASH

Shiva Dubey (166 Points)

06 February 2024

CONSTRUCTION EXPENSES DONE IN CASH DON'T RECEIVED INVOICE HOW TO SHOW IN TALLY AND WHERE TO SHOW

Reply
Follow
Share

13 Replies

Yasaswi Gomes new (Finance ) (4514 Points)
Replied 06 February 2024

Invoice for auditing. But when an arms length transaction occurs, you must record it

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 06 February 2024

@ Shiva Dubey,

What is the actual expense...??

Can You elaborate with more details...??

sabyasachi mukherjee (27574 Points)
Replied 06 February 2024

Pls explain for material or labour.

Shiva Dubey (166 Points)
Replied 07 February 2024

My boss just asking me to give cash to electrician between 40k to 50k and some time to give carpenter same amount 40k to 50k

furniture work
contraction
penting

all the work done in cash

totally figure is gone above 15lakh

can you help me with above expenses where to record how to record.

Yasaswi Gomes new (Finance ) (4514 Points)
Replied 07 February 2024

Create a ledger for everything in tally and post it. Later on, when you get invoice, verify the amounts. Some transactions may attract tds as well. Record everything sgst,cgst, tds etc.

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 February 2024

@ Mr Shiva Dubey,

Yes, It's very big amount. Also it's not good for Income Tax view.

But,
You can rectify this with that labours like Electricians, Plumbers, Carpenters and Masons as below:

Get sign from the entire team like Electrician and his team...
Carpenter and his team
and others like this...

Even discuss Your Auditor about this matter...

GOOD LUCK

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 February 2024

Originally posted by : Yasaswi Gomes new
	Create a ledger for everything in tally and post it. Later on, when you get invoice, verify the amounts. Some transactions may attract tds as well. Record everything sgst,cgst, tds etc.

@ Yasaswi,

If You don't know then please be quite and watch Forum what is going...

Don't reply without knowing...

Then what is difference between You and Our Great Expert Mr Sabyasachi Mukherjee...

Shiva Dubey (166 Points)
Replied 07 February 2024

Dear all waiting for accurate reply.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 February 2024

What You mean accurate reply...???

Can You give what reply you need....??

Yasaswi Gomes new (Finance ) (4514 Points)
Replied 07 February 2024

@ Sabyasachi lol. he's less than a manager a.k.a a supervisor with B.com or MBA with three years of tally experience and pardon him

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Kundan (ACCOUNTANT) (62 Points)
Replied 10 February 2024

Ask the every vendor to provide invoice and make payment from bank and deduct TDS if applicable

2nd Collect cash from vendor and deposit in the bank

sabyasachi mukherjee (27574 Points)
Replied 13 February 2024

Personal attack is not permitted in this firm .
Have some sense

Yasaswi Gomes new (Finance ) (4514 Points)
Replied 13 February 2024

Originally posted by : RAJA P M
	What You mean accurate reply...???Can You give what reply you need....??

Ok @ Sabyasachi, I did this for you cause I know you from many years. Anyways, no one can ban me cause Im not arrogant, but I defame education like As reporting, MBA and B.com.