Menu
Amount transferred
Sir with due respect I want to know that I am the sole proprietorship of the firm m/s Abc and partner of the firm M/s Def my query is that in the firm where is I am sole prop I have cash in hand for Rs 30.00 and where is I am partner the said firm is in need of cash Sir can I Tfd. this amount th my capital account in cash to my capital account where is I am partner.Thanking you
Replies (5)
Capital account can't be affected . You may transfer to current account
Yes,
If You will give amount to partnership then its will account in Your capital account except any payables between Sole Prop and Partnership
If You will give amount to partnership then its will account in Your capital account except any payables between Sole Prop and Partnership
sorry sir the assessee where he is sole prop is in need of cash and want to take the cash from his capital account from where he is partner.
Yes, You can take.
But, Check out the deed about the capital amount can be withdraw or Not...
May be in partnership You maintain Capital account as "Capital Account* & Current Account**" then You can withdraw/Pay from the Current Account...
* We don't make any Transactions
** We can transact through this account...
But, Check out the deed about the capital amount can be withdraw or Not...
May be in partnership You maintain Capital account as "Capital Account* & Current Account**" then You can withdraw/Pay from the Current Account...
* We don't make any Transactions
** We can transact through this account...
You must not effect capital account since you may need to amend the partnership deed to change the capital account.
All credits and debits should be routed through partners current account
All credits and debits should be routed through partners current account
Recent Topics :
- One time commission filing in ITR2
- 600128 HSN rate
- Social Security benefit from US by resident
- E-way notices
- Itr form for Salary income, Interest, Dividend And
- Will my TDS be deducted as NRI?
- PENSION ARREAR RECEIVED - EPS 95 SCHEME
- Processing of Form 144 (prev 27Q)
- Capital Gain on sale of Vacant Land- Whether Demol
- Hello dear I want help .
Related Topics :
CAclubindia
