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Party set off
A party is a debtor and creditor both rs 1000000 is receivable and payable to the same, can I set off the same against each other
Replies (6)
Quick Summary
Could you elaborate
Like just passing an entry creditor Dr 100000
to debtor cr 100000 without actually paying or receiving any amount
is there any issues with any of the tax laws with the above treatment
to debtor cr 100000 without actually paying or receiving any amount
is there any issues with any of the tax laws with the above treatment
Yes you can do that .......... & get confirmation of the party with a sign & stamp , so not any issue will arise in future .
Ok thanks a lot
Welcome Dear ........... ........
Mutual book entries to avoid bank transactions and arrive at a conclusion.
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