Doubt regarding salaray o/s and unsecured loan
This query is : Resolved
07 July 2015
one party credited salary o/s to unsecured loan is it valid in the eye of law? please explain me
why we cant show it is in provision
07 July 2015
There is nothing illegal about it. But was it because the employee had agreed to give that amount as loan to the employer? If the salary was paid to the employee in the next month of following year then I don't see the point of crediting it to unsecured loan account; t should have been credited to outstanding salary account.
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