Query relating to drawings
This query is : Resolved
20 October 2014
hello every one,
The drawings which were in the bank statement of a contractor can be treated as 50% personal drawings and other 50% for business purpose? was that treatment right ?pls helpe out
27 October 2014
how it will be correct
.
.
you have to find out end use of drawings
.
.
if amount drawn used for business purpose it cannot be taken as drawings,..this drawings pay reduce liability of enterprise
.
.
if amount drawn used for personal purposes same may be treated as drawings
.
.
you have to find out end use of drawings
.
.
if amount drawn used for business purpose it cannot be taken as drawings,..this drawings pay reduce liability of enterprise
.
.
if amount drawn used for personal purposes same may be treated as drawings
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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Multiple trade mark
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- Copyright software
- Taxation on Swing Trading Income (No Other Income)
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
