Hi,

The directors has taken a sum of Rs.12 lakhs for their son marriage hall booking payment.
(all through chq).
The company balance sheet (Liability side) shows director loan rs.40 lakhs.

In this regard my question would it be possible to set off the above 12 lakhs into loan a/c.


Thanks in advance,

tds on nbfc detail

Sir I am working in a Partnership Firm at Hyderabad which is engaged in the field of Real Estate i.e, developing of layout and selling of plots.

Partnership Firm was registered in August 2012 and Office was opened in October 2012.
The business was commenced in December 2012 by way of a layout.



One of the Partners has introduced capital by way of cash at the beginning of the Firm say 1000000/- in a single transaction.

Now during the course of business one of the partner has introduced further amount of 1000000/- (through his friends )in the firm.
Now My query is how do I account for the above amount? Should it be accounted as further capital introduced by partners i.e., by Crediting to their Capital A/c.

If doing so in that way do the partners have to show the above amount in their individual returns ?

One more question can a partner introduce capital 'n' number of times during a financial year in the course of business or is there any restriction?

Now the second issue is the partners withdraw huge amounts say 300000/- to 500000/- by way of cash from the firm for paying amounts (bribes , liaison expenses,etc) to Govt. Officials for obtaining approvals for layouts from the Govt.

Now how do I account for the above transaction in the books of A/c ?

Can I straight away debit the above huge amounts to their Capital Accounts ?
If yes , does section 40 A (3) applies or not?

I am facing this problem frequently in spite of educating the partners of the difficulties in doing such transaction/s.

Please guide me in this regard.

Dear sir,

any one can help me what are the entry i have to pass in tally for final balance sheet entry i.e we paid Advance tax 3,50,00,000/- in F.Y 2012-13 and Tax payable is 1,79,00,000/- and TDS Recievable 4,70,000/-.

what entry i should pass for this transaction?

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