Starting
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
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.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Capital gain on sale and purchase of plot
- Condonation . E-Verification of last year return .
- Eway bill not cancelled within 24 hous what can be due
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
