What is maximum limit of cash payment per day by a company?
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Answer / ashish sakalley
Maximum cash payment by a company to others is Rs. 20,000/-
but if you pay cash to Govt department you pay more then
20,000/-.
| Is This Answer Correct ? | 71 Yes | 5 No |
Answer / ansarul
If Company Pay to others Rs.20000/= and if Pay to transporter Rs.35000/=
| Is This Answer Correct ? | 64 Yes | 4 No |
Answer / shailesh
to others it is 20000 & to transporter 35000.
| Is This Answer Correct ? | 53 Yes | 3 No |
Answer / shailesh pandey
this amendment is for all of them whether they are company or non company,trust,partnership firm.
there are no limit of cash
if they purchase capital goods there are not limit cash
if they pay as expenses then individual to one party there is maximum rs 20,000 & transporter 35000.
| Is This Answer Correct ? | 25 Yes | 6 No |
Answer / vishnu gaur
A transporter can pay maximum Rs. 35000 in a single day for his fuel & repair & maintenance expenses but others can make a payment of maximum Rs. 20000 in a single day.
| Is This Answer Correct ? | 21 Yes | 7 No |
Answer / pradeep kumar
what if i pay 20000 to one person and 20000 to another persone belongs to different parties on the same day..
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / srinivas
If Company Pay to others Rs.20000/= and if Pay to transporter Rs.35000/= But Some brokerage companies give to the agents above 20000
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / balasubramanian.k
Maximum Cash distribution limited company per day
| Is This Answer Correct ? | 3 Yes | 7 No |
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WHAT IS THIS ACCOUNT
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.
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