Bank deposit

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prakash (Querist)
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23 September 2015 All dear sir if money transfer from one co. bank a/c to another co.bank a/c (both co. in same tally) then it is treated under which head ?

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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23 September 2015 for what purpose it has been transferred either debtor creditor or as advance

Amol S Joglekar

Amol S Joglekar (Expert)
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23 September 2015 it is routed through RECEIPT , PAYMENT as applicable to those companies. For one company it is payment, at the same time for other company it is receipt.

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prakash

prakash (Querist)
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23 September 2015 Sir i want to know if receipt from one co.

Bank a/c ...dr
To x co.
In this situation x co. Will come under which head ?either group under indirect income or something else?

Amol S Joglekar

Amol S Joglekar (Expert)
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24 September 2015 X co comes under the group of Current asset or Current liability as the case may be and vice versa