I need urgent cash of Rs.100000 , so my father gives me Cash , then on same day I transfer Rs.100000 Online into his bank Account. I like to know how this things enter in my tally.
Please guide me step by step..
Thanks
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Cash and online transaction
Replies (5)
in cash we can give only 20000/- loan in a year and repayment by way of banking mode only. so you can't take 100000/- cash loan
how to do entry of this in tally... Guide please..
create ledger of your father in loans liability head.and when you receive payment credit the account
Still can be some problem with taxes?
You cannot take cash loan from any one more than Rs.20000 in a financial year.
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