For a small business, turnover < 50 lakhs.
proprietor wants to use OD limit against FD in his name as working capital.
should he create a od limit account in ac books and do the entries?
how the interest paid on use of limit shall be accounted.
Rajeev Kumar Gupta (accountant) (54 Points)
29 June 2019For a small business, turnover < 50 lakhs.
proprietor wants to use OD limit against FD in his name as working capital.
should he create a od limit account in ac books and do the entries?
how the interest paid on use of limit shall be accounted.
CA Raj Doshi
(Practising CA)
(8565 Points)
Replied 30 June 2019