Explain the following terms: Ublek Rakam - Vidyadip

Question

Explain the following terms: Ublek Rakam

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Answer

If a certain amount of money is lent to a person or received from a person for a period of two or four days, It Is recorded in Rojmel or Bethomel but its posting Is not done and below this amount $‘U’$ (Ublek) Is written instead of Fankun Marvun $(O).$ When the lent amount Is received back or amount taken Is paid, then It Is posted In the opposite side of the Rojmel or Bethomel. In this $L.F.$ No. is not to be written but $‘U’$ is written in Its place. Here $‘U’$ has two meanings: $(1)$ This transaction is related to Ublek Rakam and $(2)$ The posting of the amount Is not to be done. If after the specified time period, such an amount is not received or paid, then Its posting is done and at the same time $L.F$ No. is also written. Presently most of the businessmen do not even show Ublek Rakam in Rojmel or Bethomel. Such note is not acceptable from the view-point of Taxation.

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