Capital transfer
This query is : Resolved
Vaneet Monga
(Querist)
10 December 2021
Sir,
Please help
Proprietor has been dead in books of account Capital of Rs.1274000/- Distributed to His both sons equally. entry passed in books of account Capital account Dr. 637000/- Dr. Mr.A son HUF Cr. 637000/- and Capital account 637000/- dr. MR.B son HUF Cr. 637000/- in 31.03.2021 Capital account NiL In Current Financial year 21-22 Same Firm Business Transferred to MR.A son. with new Registration.
Now query is in busy in which Group I create the ledger of Both sons MR.A and MR.B
its under Unsecured Loan or any more please suggest
Please help
Proprietor has been dead in books of account Capital of Rs.1274000/- Distributed to His both sons equally. entry passed in books of account Capital account Dr. 637000/- Dr. Mr.A son HUF Cr. 637000/- and Capital account 637000/- dr. MR.B son HUF Cr. 637000/- in 31.03.2021 Capital account NiL In Current Financial year 21-22 Same Firm Business Transferred to MR.A son. with new Registration.
Now query is in busy in which Group I create the ledger of Both sons MR.A and MR.B
its under Unsecured Loan or any more please suggest
CA R SEETHARAMAN
(Expert)
10 December 2021
Mr A capital account.
Mr B unsecured loan.
Mr B unsecured loan.
Message likes :
1 times
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- GST ITC as per notification 12/2023- central tax
- Gift to nri relatives resides in usa
- Rent agreement of House of deceased person
- Applicability of tax on invoice
- Form 144 TDS Return Validation error
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
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
