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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Relief u/s Section 89
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Supply through E-commerce Operators
- Merchant Export Accounting
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
