ACCOUNTING TREATMENT OF LOAN
This query is : Resolved
Suresh S. Tejwani
(Querist)
04 March 2023
SUPPOSE MR. A HAS TAKEN UNSECUED LOAN FROM MR. B FROM BANK NOW CAN MR. A MAKE JOUNAL ENTRY TO PAY UNSECURED LOAN AGAINST FROM MR. B TO MR. C ? OR VICE-E-VERSA ?
IF YES , WHAT ABOUT CLAUSE 31a AND 31c OF FORM 3CD OF INCOME TAX ACT WHICH SHOWS OUTSTANDING ?
IF YES , WHAT ABOUT CLAUSE 31a AND 31c OF FORM 3CD OF INCOME TAX ACT WHICH SHOWS OUTSTANDING ?
CA R SEETHARAMAN
(Expert)
05 March 2023
Yes, see the link.
https://indiankanoon.org/doc/47211512/
Disclose it as book adjustment in 3CD .
https://indiankanoon.org/doc/47211512/
Disclose it as book adjustment in 3CD .
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