Accounting group for individuals


This query is : Resolved 

Quick Summary
This discussion clarifies how to account for individual tax implications arising from a partnership. It covers the treatment of tax paid by the partnership, refunds received, and how profits and losses are transferred to partners' individual accounts. The ledger entry for 'Profit & Gains from partnership firm' is highlighted as the key for capital transfers.

05 October 2024 what would be the accounting group for accounting in the case of individuals
Tax paid by Partnership firm /Refund for parthers
Profit and Loss transferred to partners

06 October 2024 It is capital transferred from the firm
Leger: Profit & Gains from partnership firm.

11 October 2024 Good luck ....


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
13 August 2026
Chartered Accountant (FP&A)

Client of Trellis Consulting

Gurgaon

CA

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details