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
Ganeshbabu K
(Expert)
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 out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
