Accounting entries passed allowed in i.t.act
This query is : Resolved
Quick Summary
06 February 2021
sir,
i.t. assess un secured loan and sundry debtor(cash Loan) outstanding balance in books show as on 31-03-20.
un secured loan amount Rs:4 lacs
sundry debtor(cash loan) amount Rs:5 lacs
1.assess sundry debtor balance amount Rs:5 lacs transferred to un secured loan account adjustment accounting entries(contra) passed.
2.Differance amount Rs:1 lacs amount cash receipts from debtor entries passed in books in f.y.20-21.
question:
Assess adjustment entries in books allowed in i.t.act
i.t. assess un secured loan and sundry debtor(cash Loan) outstanding balance in books show as on 31-03-20.
un secured loan amount Rs:4 lacs
sundry debtor(cash loan) amount Rs:5 lacs
1.assess sundry debtor balance amount Rs:5 lacs transferred to un secured loan account adjustment accounting entries(contra) passed.
2.Differance amount Rs:1 lacs amount cash receipts from debtor entries passed in books in f.y.20-21.
question:
Assess adjustment entries in books allowed in i.t.act
07 February 2021
un secured loan name A Sundry debtor name B different parties allowed
14 October 2021
Not allowed.
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