Are bus loans deposited into a bank acc of company taxable?

Francis (Finance Professional) (41 Points)

18 May 2014  

Dear Madame / Sir,

Q1. Suppose Om Enterprises (Proprietorship Company) take a business loan from a "Finance Company" called Pawan Finance of Rs.10,00,000/-...........Once the Rs.10,00,000 is deposited into the current account of Om Enterprises, then what type of "Journal Voucher Entry" will get passed in Tally. Will Om Enterprises, have to pay any kind of direct tax or indirect tax on it?

Q2. Suppose a private limited company planning to raise capital through sale of its shares, the share capital is raised and the shareholders money comes into the account, then what type of "Journal Voucher Entry" will get passed in Tally. Will the private limited company have to pay any kind of direct tax or indirect tax on it?

Regards,

Francis