accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 January 2011
Can parents give loan to their minor child?
if yes then what should be the accounting treatment in both bokks?
if yes then what should be the accounting treatment in both bokks?
20 January 2011
Yes A parents give loan to minor child. Any income arising from such loan will be clubbed in the hands of the minor.
Simple entry for loan will be passed.
Simple entry for loan will be passed.
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