it assess outstanding ledger balance amount show in books in f.y.20-21 one debtor and one creditor .
1.cash loan from creditor rs:1 lacs
2.cash loan to debtor rs:1 lacs
question:
assess cash loan from creditor rs: 1 lacs ledger balance amount transferred to cash loan to debtor account adjustment entry passed in books allowed in it act.
Menu
Cash loans adjustment debtor and creditor balance
Replies (1)
It is not allowed in IT ACT
Recent Topics :
- Criteria to hire an article
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
- WRONG TAX DEMAND - formal responses , rectificatio
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
Related Topics :
CAclubindia
