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....
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