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PGBP

This query is : Resolved 
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(Querist)
16 July 2009 Any payment above 20000 otherwise than account payee cheque or demand draft is disallowed. now if any expense payment made by partner on the behalf of the firm above 20000 and entry passed in the books
Expense a/c dr
to Partners Capital
Is it disallowed.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
16 July 2009 Yes, it will be disallowed as the same entails two entries:

Cash a/c dr
To Partners Capital

Expense a/c dr
To Cash
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