Menu
Loan re-payment from other firm
Dear Experts,
Please help me on following issue:
Loan taken by our ABC firm from NBFC but re-payment of loan done by our other firm XYZ thru. ECS from XYZ firm bank account. (Partners are same in both firms)
Please help me:
1. How accounting entries pass
2. No TDS deduction on Interest on Loan by both firms
Regards,
Jatin
You are requested to how handle this situation:
2.
Replies (1)
Debit loan account and credit XYZ account with loan amount
Recent Topics :
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
Related Topics :
CAclubindia
