Private Company Advance from customer more than one year old

[Dhaval Bangali]

Dear Members 

What are the compliance for private company if accept advance from customer which is older more than one year.

[Tanmay Hankonkar]

A private company cannot receive deposits from public except if it an member 

I would suggest that the adjust the amt more than one year either of the below options

I. Increase the amount received during the year by that amt and show it in negative adjustment. Or

II. Increase the amount received during the year by that amt and show it in repaid column.

Note : Consult with the stat auditor before giving this effects

On Mon, 13 Jul, 2026, 10:49 pm Dhaval Bangali, <dhavalcs...@gmail.com> wrote:

Dear Members 

What are the compliance for private company if accept advance from customer which is older more than one year.

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CADR5EFHjkxDBk6FGqBct2EtRc%2BAu_6F4fxmOquETwLW%3D-q9cNg%40mail.gmail.com.