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about loan

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(Querist)
08 April 2009 our firm is partner ship firm the partners have withdran 50000.00from firm and made fd in their names.Bank has given the firm loan against 50000.00 fd.

should i account the laon as capital brought by partner OR loan under liablity
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
08 April 2009 Loan shall be treated as loan under liability.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
08 April 2009 Loan will be treated as loan only but the amount withdrawn by partners for FD is Drawings.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
10 April 2009 i support the experts

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