Accounting
This query is : Resolved
03 October 2014
if we had purchased a property for 10 lac in partnership n 1 lac is paid by partner .so can show property of 10 lacs in our account n 1 lac as due to our partner. if we had intention to own it by paying the remaining amount to the partner in coming future. and registry is on the name of both.
pls suggest accounting
03 October 2014
if you wish to show as joint property, then better only show Rs 9 lacs in your books. Nothing will be shown as payable to the partner.
06 October 2014
can show it as loan given by partner to firm....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Loss of interest in PF transfer from EPFO to Trust
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Rent claimed on building given on permissive possession basis
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Error in uploading Form 10BD
- Traces submitting correction statement error
- Residential status of non resident
- ITR 44AD SECTION
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
