Transfer
This query is : Resolved
19 October 2015
Dear sir , we have two entity one is pvt. ltd. & other is firm . i want to know if one co. transfer money to other . then is it treated as loan or expense ?
19 October 2015
it will b obviously as loan.. why it will be expense... And reasons should be genuine
19 October 2015
Thanks sir , these companies are in same tally and due to shortage of money we transfer. means it will treated as current liability .and for receiving co. It is treated as indirect income ? Is this correct sir ?
19 October 2015
nopes yaar... if for one company it is current liability then for others it will b current assets...
for one it is loan, for second it is advance received or loan received whatever dpeneding on the reasons of advance
for one it is loan, for second it is advance received or loan received whatever dpeneding on the reasons of advance
19 October 2015
Okay sir according to my reason stated above it will be current liability or current assets vice versa.
Because transfer made due to shortage of money .And both co. Of same owner .
Because transfer made due to shortage of money .And both co. Of same owner .
19 October 2015
bt you should avoid all these ... transfer without any reasons is not good
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