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.
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Cash loans adjustment debtor and creditor balance
Replies (1)
It is not allowed in IT ACT
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