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Properitor

Others 257 views 3 replies

ABHI KUMAR

744 Points Posted on 25 March 2021

properitor widraw money from own current account from personal use nd treated as salary if yes then he claim expenses in properitor firm

Replies (3)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 25 March 2021

But why the amount withdrawn from the current account for personal use be treated as salary

Shwetha Nadiger

4 Points Posted on 25 March 2021

Any amount withdrawn by Proprietor is treated as Drawings and is allowed to claim as Expense from Capital Account Here the Money withdrawn shall not be treated as Salary.

Kapadia Pravin

17264 Points Posted on 26 March 2021

No such drwaings are deductible as expenditure

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