25 September 2009
A person is proprietor of M/s ABC and also partner in XYZ a partnership firm. Now XYZ paid Rs : 6 lac to M/s ABC through chque. No interest has been charged from M/s ABC. It would treated as deposit or deduct from partners capital in firm ? kindly suggest me .
25 September 2009
If any business service is not provided by abc to xyz then it is treated as withdrawl. but if any service is provided by abc to xyz then same is treated as advance.
CAclubindia
