I Pay tax of My Proprietor ship firm in my Personal account
what should i consider this amount as loan or investment for my person Account and my firm Account
kindly suggest
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Consider Loan Or Investment
Replies (7)
What type of Taxes you have paid ?.
I understood its personal account so proprietorship firm has taken loan . That you hv to show.
Sir We have paid TDS
Deducted TDS for what type of expenses ?.....
Sir deducted on Rent
Loan to the proprietorship Firm .
In my view, the amount of TDS paid out of personal account can be credited to Capital Account since this is a Proprietary Firm and he is the sole businessman.
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