BRS stands for Bank Reconciliation Statement. It is prepared
to find out the diffrence between the bank cash book and
pass book.The bank cash book is maintained by the customer
and the pass book is maintained by the banker himself. The
customer ( either a company or an individual)keeps both cash
book and passbook with himself and reviews the passbook with
the banker whenever he goes to the bank. The main reasons
for diffrence between cash and passbook are as fallows:
1. Cheques deposited into bank but not credited.
2. Cheques drawn but not presented for payment.
3. Bank charges are debited in bank account.
4. cheques dishonoured.
BRS is the Bank Reconcilation statement it is statement to
reconcile the Books of accounts. It is the balancing of
bank book and bankers statement.The reason for the
difference is i.e cheques deposited but not credited by
bank,cheques drawn but not presented for the payment,
BRS MEANS BANK RECONSILATION STATEMENT, IT IS A STATEMENT
PREPARED BY ORGANISATON. IT MEANS RECONSILE THE BANK BOOK
IN AN ORGANISTION WITH PASS BOOK ON SPECIFIC DATE.MAINLY IT
IS USED OF INTERNAL CHEKING PURPOSE AND IT IS PREPARED
WEEKLY AND MONTHLY BASIS.
Bank Reconciliation Statement means a Statement prepared to
find out the reasons for differences between balances of
Cash Book (maintained by the Company) and the Bank Statement
(Rendered by the Bank). Eventually the balance of Bank
Statement tallies with Cash Book and vice versa.
A Statement prepared generaly ones in a month by those
enterprises who are maintaining a bank account and making
transactions it is important to check the transactions
related with that bank account wheather the balances
appearing in Bank statements are same or not with the Cash
book Maintained in the enterprises .... if any diffrences
occurs between the Bank statement(PASS BOOK) and Cash book
so to solve the diffrences without effecting both the
books a statement is prepared to have a reason for the
responsible transaction for the diffrences oveserved
I WANT TO ASK REGARDING PROFESSION TAX OF INDIVIDVAL
IF ASSESEE DOING TWO SEPARATE BUSINESS ON SAME PAN CARD,
THEN HE IS LIABLE TO PAY PROFSSION TAX ON EACH
BUSINESS/ENTITY Rs 2500/- PLS REPLY