Rohit soni (Student CA Final ) (33 Points)
31 May 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193922 Points)
Replied 13 July 2016
No difference in capital acc.
Rental Income/expenditye can be posted in both provided proper deed made.
CA Ashish Gupta
(Internal Audit GST Balance Sheet Income Tax )
(55 Points)
Replied 13 July 2016
you can book rental expenses in books
CA shanky pahoja
(accountant)
(615 Points)
Replied 13 July 2016
If land is transfered to business or husband(considering it to be sole proprietor) , he shall make an entry in the books by crediting capital and debiting land.
If he want to show it as land taken on rent then he can debit land rentals and credit cash/ bank/ wife's a/c
CAclubindia
