what is the Cash purchase limit.
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Answer / ilangovan
As per Incometax rules we didn't make cash entry of
Rs.20000 and above. so that, the limit is Rs.20000/-
| Is This Answer Correct ? | 20 Yes | 2 No |
Answer / accountant
cash purchase on valuation of stock
as a like goods pur for rs 25000
| Is This Answer Correct ? | 7 Yes | 6 No |
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1 Answers Chartered Accountant,
pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.
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