Accounting entry in tally related personal loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 October 2016 Dear Expert...

Mr A is Proprietor of M/S XYZ Enterprise.

Mr A has taken personal loan of Rs 1,50,000/- from Bajaj Finance for has personal use.

and during the year he has repay loan amount Rs12500/- form has HDFC Bank.

What is Accounting Entry of thi whole Transaction in Tally.???

Plz Reply Expert????

CA SAGAR M. AHUJA

CA SAGAR M. AHUJA (Expert)
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26 October 2016 Simple, it is related to personal purpose so the payment made by HDFC bank will be show as Withdrawals in capital account.
Thanks.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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27 October 2016 Agree, you have to do entry by capital reduction for personal loan. you don't need to separate EMI (Principal & Interest).
Withdrawl (EMI Amount) Dr
To Bank CR

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