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Accounting Question in f.y 20-21

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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26 March 2021 Sir,
It Assess accounting books outstanding balance as on 31-03-20.
Cash loan from friend balance rs: 5 lacs.(name Mr.A)
Cash loan to friend balance rs:4 lacs(name Mr.b)
Cash loan from friend Rs: 5 lacs balance cash loan to friend Rs:4 lacs Contra adjustment accounting entries passed in books as on 31-3-21.
Question:
1.Assess above contact accounting transactions allowed in it act.
2.sec 269st or 269ss applicable

Ganeshbabu K

Ganeshbabu K (Expert)
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27 March 2021 Transactions you have entered are contravention of section 269T, 269SS

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