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treatment of loan taken by the partner from the firm at the time of dissolution

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Guest

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Guest (Querist)
16 September 2016 whether the lpan amount transferred to capital a/c or it is directly settled through cash bcoz in ts grehwals book it is said that this loan amount is nottransferred to capital a/c while in dk it is said that kt is transferred to capital a/c so what is the matter
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CA ALOK KUMAR

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CA ALOK KUMAR (Expert)
16 September 2016 It can be settled in either way - by way of paying through available payment mode or can set off or transferred to its capital account. For further clarification, you may write us to info@wealth4india.com or Logon to www.wealth4india.com (online Tax Studio & Start-up Gateway)
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