Loan re-payment from other firm

Jatin (B.Com) (473 Points)

24 June 2016  
Dear Experts, Please help me on following issue: Loan taken by our ABC firm from NBFC but re-payment of loan done by our other firm XYZ thru. ECS from XYZ firm bank account. (Partners are same in both firms) Please help me: 1. How accounting entries pass 2. No TDS deduction on Interest on Loan by both firms Regards, Jatin You are requested to how handle this situation: 2.