Opinion on the following querries

Hie Mr Dinesh,

I think that you have not represented the situation in a manner it should have been put on. However the two transactions i.e

1) Getting the money from the Pvt ltd Comapny and giving it back and

2) Raising a bill of sales and than showing it as bed debts

does not depict a link. You cannot show a unsecured loan of more than 2 lakhs for a bill of amounting less than 35,000. And also there should be proper provision of interest payable on unsecured loan as on march 14.

There should have been a provision as on march for the payment to be made in the next year.

Mihir Sir,

Limited company paid as interest of Rs. 32596.00 by way of raising sales invoice (actualy Sold the goods) and later on write of the amount of sales invoice raised as bad debts

What will be happend pl tell me