Dattatray (Account Executive) (51 Points)
30 September 2010Hii
How much Foreign Money a pvt ltd company can keep in petty cash?? and for how many days??
is there any limit for foreign money and time(in terms of days or months)
it would be great if anyone could send me the circular or something so that i can show tyo my Boss..
Waiting for answer???
Thanks
You can also reach me on my mail id duttesh @ gmail.com
Dear Dattatray,
As per my knowledge no limit for how much Foreign Money a pvt ltd company can keep in petty cash no time boundation.
But Cash withdrawl & Cash safe in petty cash Insurance is mandatory for Pvt. Ltd. Co. then you can keep foriegn currency in petty cash
and i dont have any circular, amendments for RBI Guidline
No result on RBI .com for your question?????
Dattatray
(Account Executive)
(51 Points)
Replied 01 October 2010
thnaks Rahul.. Can i get ur mail id ????
Karan Thacker
(CA)
(117 Points)
Replied 08 October 2010
Dear Dattatray,
While doing an audit of a Private Limited Company, i came to know that the holding of Foreign Co. was 99.9%, but talking about the cash the can hold i want to share with you that the more amount of cash you keep the more extensive procedures are taken care of by auditors.
Ramarao Gullipalli
(Dy.Manager-Finance & Accounts)
(99 Points)
Replied 09 September 2011
Dear Member,
Very Nice Answer
Rama Rao
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