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(Querist)
19 April 2013 A proprietorship firm has obtained cash credit against flat which is owned by child of proprietor & funds are used by business & claims interest as business expenditure. then what will be the treatment in audit report???
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
19 April 2013 If loan taken and used in business then no treatment needed in audit report.

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