ACCOUNTING TREATMENT FOR LOAN GIVEN TO EMPLOYEE
This query is : Resolved
Himanshu Sharma
(Querist)
15 June 2020
dear experts,
pls let me know about the act for giving interest free loan of Rs. 40000 to an employee. How it can be treated in accounting books or we can give the same as advance salary. Employee will repay it from monthly salary for 20 months. Kindly confirm what will be appropriate?
thank you
pls let me know about the act for giving interest free loan of Rs. 40000 to an employee. How it can be treated in accounting books or we can give the same as advance salary. Employee will repay it from monthly salary for 20 months. Kindly confirm what will be appropriate?
thank you
16 June 2020
ITS COVERED UNDER LOAN AND ADVANCES. TRANSFER 40000 INTO IT AND REDUCE THE AMOUNT AS AND WHEN ITS GET REDUCED.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- GSTR9 Annual Return
- Applicability of tax on invoice
- Closer of business and itc of capital goods
- LLP audit and disclosure
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
