Poonawalla fincorps
Poonawalla fincorps

Partnership firm

This query is : Resolved 
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(Querist)
20 June 2014
Dear sir,
While studying ICWA inter i could see the loan amount is not taken in to partners capital account.
Why don't we take loan amount which is provided by one partner in to partners capital account.

regards
Shyamlal
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 June 2014 because it is a loan...not capital...
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Rupesh Jain

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Rupesh Jain (Expert)
21 June 2014 because due to this amount given by the partner other than his capital contribution.

so it is loan for the firm.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 June 2014 in partners capital account loan is given by partners to firm and reverse so loan account is sep maintained.

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