Repayment of loan of group company
Querist : Anonymous
Company “A” was wounded up in 31.12.2010; Owners are “Jack” & “Jill”
Liabilities of Company “A” amounting to Rs. 100000 was paid by Company “B” on Feb 2011
Company “B” is owned by “Jack” one of the owners of Company “A”
As Company “A” is wounded up, the loan of Company “A” from “B” is paid in installments of Rs. 2000 by Company “C” from 01.03.2011
Company “C” is owned by “Jill” one of the owner of Company “A”
Now the requirement is repayment of loan, should not affect the financials of Company “C”
How?
Querist : Anonymous
Liabilities of Company “A” amounting to Rs. 100000 was paid by Company “B” on Feb 2011
Company “B” is owned by “Jack” one of the owners of Company “A” and will not share the liability
As Company “A” is wounded up, the loan of Company “A” from “B” is paid in installments of Rs. 2000 by Company “C” from 01.03.2011 (entire loan repayment will be made by this company)
Company “C” is owned by “Jill” one of the owner of Company “A”
Now the requirement is repayment of loan, should not affect the financials of Company “C”, meaning what are the entries to be passed in Company “C” books so that the loan repayment will not affect its financials, like treating it as loan or something
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Journal entry of busniess expenses
- GST Rate for Catering Services
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- FCRA 6 E- Intimation
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
