ACCOUNTING ENTERIES
This query is : Resolved
27 February 2023
MR. A IS PREPARING BOOKS OF ACCOUNTS
MR. A HAS TO RECEIVE 1000 FROM MR. B
MR. B HAS TO RECEIVE 1000 FROM MR. C
CAN MR. A DIRECTLY MAKE JOURNAL FOR TO MAKE RECEIVABLE FROM MR. C ?
WITHOUT BANK OR CASH TRANSCTION
IS THIS CORRECT ACCORDING TO INCOME TAX OR ANY OTHER LAW ?
MR. A HAS TO RECEIVE 1000 FROM MR. B
MR. B HAS TO RECEIVE 1000 FROM MR. C
CAN MR. A DIRECTLY MAKE JOURNAL FOR TO MAKE RECEIVABLE FROM MR. C ?
WITHOUT BANK OR CASH TRANSCTION
IS THIS CORRECT ACCORDING TO INCOME TAX OR ANY OTHER LAW ?
28 February 2023
Yes, with the consent of B and C , A can make the entry.
No problem with income tax or any other law.
No problem with income tax or any other law.
01 March 2023
FOR MORE BETTER CLEARITY
SUPPOSE MR. A HAS TAKEN UNSECUED LOAN FROM MR. B FROM BANK NOW CAN MR. A MAKE JOUNAL ENTRY TO PAY UNSECURED LOAN AGAINST FROM MR. B TO MR. C ? OR VICE-E-VERSA ?
IF YES , WHAT ABOUT CLAUSE 31a AND 31c OF FORM 3CD OF INCOME TAX ACT WHICH SHOWS OUTSTANDING ?
SUPPOSE MR. A HAS TAKEN UNSECUED LOAN FROM MR. B FROM BANK NOW CAN MR. A MAKE JOUNAL ENTRY TO PAY UNSECURED LOAN AGAINST FROM MR. B TO MR. C ? OR VICE-E-VERSA ?
IF YES , WHAT ABOUT CLAUSE 31a AND 31c OF FORM 3CD OF INCOME TAX ACT WHICH SHOWS OUTSTANDING ?
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
