watch_later 28/11/19


A I.t. small trader accounting books day book,  all ledgers and  all accounting transactions update maintained.if a trader recent some amount( 6 lacs cash) cash deposit in bank account.but negative cash balance show in daybook.

How to solve the negative cash balance in daybook.

2 Responses | Latest response: 11/01/20 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 02/12/19

Hello Sir,

If you deposit 6 lacs cash in your account. Then you should have cash balance in your cash account. Without cash balance how can u deposit ?. What is the source for that fund. If you received by cash loan. Then you can put one receipt for the same. But As per Govt rule you can't take cash loan more than 2 lacs.

Thanks and Regards

Suresh Paramasivam

watch_later 11/01/20

I like to inform that cash loan is not allowed above Rs.20,000/- u/s 269SS (Not Rs.2 Lakhs) as mentioned in earlier answer.



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