sec 44ada it assessess cash loan from creditor rs:20 lacs ledger balance cash loan to debtor ledger balance rs:15 lacs as per account records dt:31-03-23.
question:
1.assessess creditor ledger balance amount transferred to debtor ledger balance account adjustment book entry passed allowed in it act.
2.sec 269st,sec269ss,sec 40 (a) provisions applicable
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Book adjustment entry passed allowed in it act
Replies (5)
Provisions applicable
@ kollipara,
Ask Your question correctly...
Is there the both Creditor and Debtor is same person...??!
If Yes then You can adjust...
If No then How it's possible...??!
Ask Your question correctly...
Is there the both Creditor and Debtor is same person...??!
If Yes then You can adjust...
If No then How it's possible...??!
Creditor and debtor different persons
Then How can You adjust the balance...??
Transfer to bad debts account
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