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REDUCTION IN CAPITAL

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(Querist)
11 October 2019 HOW TO REDUCE CAPITAL OF PROPERITOR
IF I SHOW DRAWING AS 1500000 UNDER CAPITAL ACCOUNT. IS IT OK
KINDLY REPLY AS SOON AS POSSIBLE
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CA Prabhat Kumar Makhija

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CA Prabhat Kumar Makhija (Expert)
11 October 2019 Any drawings done by proprietor for his personal use would be adjusted from capital account. In your case, If the proprietor has done those drawings of Rs. 15 lakhs for the personal use shall be adjusted from capital account.

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