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(Guest)

car loan entry

Oh, I don't have enough money for cars right now either. But I don't need a lot of money. I don't know what to do with my bad credit history. I'm tired of saving money.



 11 Replies

CA SHRIPAL LUNIYA

CA SHRIPAL LUNIYA (CA, CS Final & M.Com)     21 March 2011

1. When Car Purchased...

   Car A/c                            Dr.                5719780/-

       to Bank A/c                                                     1119780/- 

       to ICICI Loan A/c                                             4600000/-

 

2. When First Installment Paid....         

 

   ICICI Loan A/c                   Dr.                       (146826-Interest*)

      Interest on Loan A/c             Dr.                Interest Amt.

       to Bank A/c                                                     146826/-



 

*Interest amount as per statement.   

    

4 Like
CA Saroj Kumar

CA Saroj Kumar (Keen to learn something new every moments)     26 March 2011

i agrre with sripal

Srinivas Ch

Srinivas Ch (Sr.Accountant)     10 August 2016

1.When car purchase: journal voucher

Car(fixed asset) Dr     (total car value)

    To, showroom a/c(liabilities)(down paymnt)

    To , icici car loan(secured loan) (loan amount)

2. When down paymnt: paymnt voucher

     Showroom a/c dr...

            To bank/ cash.

3. Emi to icici: journal vchr

        Interst on loan a/c dr....

             To, icici car loan accnt

4. Emi paymnt: pymnt vchr

              Icici car loan dr...

               To bank accnt

(When taking loan from banks you have to collect repaymnt schedule statemnt from bank).

             

 

venkatesh vudum

venkatesh vudum (Accountant)     17 May 2017

Dear sir,

thank you but i have one dout sir if interet crosed the 10000/- in f.y TDS applicable sir what  is the entry for that. 

Manu Krishnan

Manu Krishnan   02 January 2018

In gst how it can be entered ??
yasin143

yasin143 (sr acc)     18 July 2018

Car cost Rs1246008 and TCS Rs12460, on loan bases we have purchased how to pass the entries against TCS

 

yasin143

yasin143 (sr acc)     18 July 2018

in case we can not claim GST how to pass the vehicle purchase entry

Srinivas Ch

Srinivas Ch (Sr.Accountant)     03 November 2018

Please tell as per invoice...

Srinivas Ch

Srinivas Ch (Sr.Accountant)     03 November 2018

TDS mentioned or not in your loan agreement?

Rajesh TM

Rajesh TM (Accounts Manager)     24 November 2018

sir,

 

could u pls tell me the entry of tcs1% when we purchase car in the name of firm.


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