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Fakher Alam (Querist)

31 May 2016 Sir , i have a school and want to open another school by investing 1 crore I have 2 crore from school cash book. How to show the entry in school book for open another school Please give us your precious suggestion

Rupesh Jain

Rupesh Jain (Expert)

31 May 2016 you can invest the in new school for that you are taking the bill of purchase and make payment through the bank, its better for you to justify the this amount.

Fakher Alam

Fakher Alam (Querist)

31 May 2016 How to pass entry in old school and new school

Fakher Alam

Fakher Alam (Querist)

31 May 2016 For new school there was many expensess like land, construction, furnitures and fixtures so how to pass entry and how to take cash from old school and what entry will be passed in old school

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

16 October 2021 You need to consult a Local CA to ascertain the capital amount lying with the school, its taxability, and the eligibility as per deed to expend the amount in new project.

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