Entry in tally
This query is : Resolved
14 August 2014
Hello All
My client has purchased the property for Rs.5 Lac. the payment is as under 1.00L+1.00L from her own a/c and Rs.3.00 Lac paid directly to the party XYZ through husband a/c. What will be the entry in Tally. I think the Rs.3.00L should be shown as loan from Husband.
Kindly advise and the entry to be done pl do the needful.
Reply soon.
Regards
Sanjay
My client has purchased the property for Rs.5 Lac. the payment is as under 1.00L+1.00L from her own a/c and Rs.3.00 Lac paid directly to the party XYZ through husband a/c. What will be the entry in Tally. I think the Rs.3.00L should be shown as loan from Husband.
Kindly advise and the entry to be done pl do the needful.
Reply soon.
Regards
Sanjay
14 August 2014
yes show it as loan from husband...........
14 August 2014
Dear Sanjay,
1.) If wife will pay back Rs.3 lac to husband then it will be shown as unsecured loan, and entry will be as under
Property A/c. Dr.5 lac
To bank a/c. Cr. 2 lac
To Mr. X (husband) Cr. 3 lac
2.) If wife will not payback Rs. 3 lac to the husband, then it will be taken as gift and will be added to the capital of wife, and entry will be as under,
Property A/c. Dr.5 lac
To bank a/c. Cr. 2 lac
To Capital a/c.(wife's capital
a/c. Cr. 3 lac
1.) If wife will pay back Rs.3 lac to husband then it will be shown as unsecured loan, and entry will be as under
Property A/c. Dr.5 lac
To bank a/c. Cr. 2 lac
To Mr. X (husband) Cr. 3 lac
2.) If wife will not payback Rs. 3 lac to the husband, then it will be taken as gift and will be added to the capital of wife, and entry will be as under,
Property A/c. Dr.5 lac
To bank a/c. Cr. 2 lac
To Capital a/c.(wife's capital
a/c. Cr. 3 lac
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