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Regarding home loan querry

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 March 2011 Purchase flat at kandivali in joint name
1) Mr.SP &
2) Mrs.DP
for Rs. 6,000,000/- (Sixty Lacs)

Against this Rs. 6,000,000/-,

1) Mr. SP & Mrs. DP (The Borrower) withdrawn a loan from Bank for Rs. 5,000,000/- (The Guarantor for this loan is Mrs. DP & their son Mr. HP) & this entire amount of Rs. 5,000,000/- paid against purchase of flat. (So, balance remains Rs.1,000,000/-)

2)Again, Rs. 4,000,00/- paid by Mrs. DP (So, balance remains Rs. 6,000,00/-)

3)Balance Rs. 6,000,00/- paid by Mr. SP

4)In addition to this, Rs. 2,000,00/- towards Stamp duty & Rs. 50,000/- towards Registration paid by Mrs. DP.

Loan installments are being paid by Mr. SP

So, my query is, How should show the entries in the books of Mr. SP & Mrs. DP? pls tell me, i am very much thankful to you.
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CA Ankit Gulgulia (Jain)

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CA Ankit Gulgulia (Jain) (Expert)
06 March 2011 Dear sir kindly explain in detail the amount reconciliation?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 July 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp
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