Accounting
This query is : Resolved
03 October 2014
if we had purchased a property for 10 lac in partnership n 1 lac is paid by partner .so can show property of 10 lacs in our account n 1 lac as due to our partner. if we had intention to own it by paying the remaining amount to the partner in coming future. and registry is on the name of both.
pls suggest accounting
03 October 2014
if you wish to show as joint property, then better only show Rs 9 lacs in your books. Nothing will be shown as payable to the partner.
06 October 2014
can show it as loan given by partner to firm....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Renting of Villa
- ITR filing obligation due to savings deposit
- DTAA India & UAE
- House keeping and security services ITC can claim
- Tax payment deduction from house loan EMI
- Issue with no residency during Jan, Feb, March 2025 due to diff. between US and India tax years.
- WHAT TO SELECT IN 27Q TDS RETURN ? PAYMENT TO NON-RESIDENT
- NRI as second account holder of resident account
- To Keep Records
- TDS Payment Single Payment
- E invoice mandatory for taxable value in a year 15 lakhs where as aggregate turnover is 6 crores
- TDS deduction.
- Leave taken during Extension period of Articleship
- Regarding TDS deduction before 15CA filing
- Reversal of Interest provision in case of MSME buyer
- ITC CLAIM ON CLEARING AND FORWARDING CHARGES IN CASE OF IMPORT
- Regarding 15CA.
- Others and immediately
- INVOICE VALIDATION IN GST
- GST refund claim on Purchase of Commercial Building
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
