20 October 2014
hello every one,
The drawings which were in the bank statement of a contractor can be treated as 50% personal drawings and other 50% for business purpose? was that treatment right ?pls helpe out
27 October 2014
how it will be correct . . you have to find out end use of drawings . . if amount drawn used for business purpose it cannot be taken as drawings,..this drawings pay reduce liability of enterprise . . if amount drawn used for personal purposes same may be treated as drawings
CAclubindia
