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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 December 2011
i have started my firm as reseller/works contract/others
and also registered in VAT and give deposit of Rs. 25000/- as voluntary registration & VAT & CST Deposit Rs. 20000/- and also do expense of Rs.5000/- around. all the expense bear by my father.
Does the amount of Rs. 50,000/- treat as my capital or treat as unsecured loan ?
thanks
and also registered in VAT and give deposit of Rs. 25000/- as voluntary registration & VAT & CST Deposit Rs. 20000/- and also do expense of Rs.5000/- around. all the expense bear by my father.
Does the amount of Rs. 50,000/- treat as my capital or treat as unsecured loan ?
thanks
CMA Ramesh Krishnan
(Expert)
28 December 2011
If the business is the Proprietorship, you only the owner then the amount need to be considered as loan and need to pay back
If the business is partnership, your father also one of the partner in the business it can be considered as Capital part
so it based on the setup of your business
If the business is partnership, your father also one of the partner in the business it can be considered as Capital part
so it based on the setup of your business
06 April 2012
This is to be treated as your capital contribution and not a loan as you are the proprietor of the firm.
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