ceased cash, Accounting - Auditing

[Mayank Gupta]

if some cash amount is ceased by the income tax authorities the in the books of accounts what will be the entry of this . and under which head this will be shown in the balance sheet.......... and will the answer will be same if the cash is ceased since 2 years ago

Posts / Replies

[CA GOPALJI AGRAWAL]

It would be cash seized with dept dr of course. We have to provide for the provision of tax liability as per law on the basis of opinion of the expert./