Dear someone,
I am a sole proprietor of a fim, i purchased jewellery for my son marriage, In which accounting head i will pass entry , I give this jewellery to my son.
1. Investment or Marriage Expenses
Kindly provide me the reply
Raj
Menu
Jewellery purchase
Replies (1)
It will be required to shown as Drawings & will be deducted from your Capital A/c. Marriage expenses for son's marriage cannot be considered to be incurred for the purpose of business & hence will be drawings of the proprietor.
Recent Threads
- Difficulty in uploading itr3
- Gift received from Sister
- "off market credit transactions" mention
- Section 5A - Portuguese Civil code applicability
- Tax Audit Applicable or not?
- Understanding Why the CA Foundation Pass Percentag
- ITR3 - Switch from Old to New Regime
- Best Online Coaching for CA Intermediate Complete
- FCRA 6A Address Change request
- Can you share how you practically used the list fo
Related Threads
CAclubindia
