| Originally posted by : Sourabh Ambure | ||
 |
Can Unsecured Loan taken adjusted by sale of goods to loan giving party ? |  |
Yes,
First pass an entry of unsecured loan to advance received from customer
and then advance to sale.
| Originally posted by : Sourabh Ambure | ||
|
is it ok from income tax point of view in case of audit firm. | |
Yes
Sri Aurobindo Gnostic Centre of Education
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CA
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