Accountancy, asked by shrivastavn141, 1 month ago

cash deposit into back 40.000​

Answers

Answered by umalaiappan
0

Answer:

No person shall accept any loan or deposit in a single day from another person in any form other than account payee cheque or bank draft, if aggregate amount involved is more than Rs 20,000. This provision has come into force to counteract the evasion of tax by mode of acceptance of money in certain cases. The objective is to prevent transactions in currency thereby allowing account payee cheque and bank draft for allowable transactions.

Answered by hudaattar123
1

Answer:

Bank a/ c Dr. 40000

to cash a/c 40000

cash deposit in bank

note it's a Contra entry

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