25 June 2013
A Property is Purchase by partner of Firm.PUrchase value of Property is 2.4 Crore.Rs.20Lac Paid from firm as advance to party.bank sanction a loan of Rs.30 Crore.Bank Paid Rs. 2.2 Crore direct of selling party and Rs 80Lac to firm as balance amount.CAsh payment of Rs.12 lac as Registration paid from firm.Now what amount should be considered as loan of firm and what amount of Partner.
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