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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- TDS on Fixed Assets purchased
- SALARY CAN BE CAPITALIZE
- TDS on purchase of under construction property from a reseller
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
