treatment of loan taken by the partner from the firm at the time of dissolution
This query is : Open
16 September 2016
whether the lpan amount transferred to capital a/c or it is directly settled through cash
bcoz in ts grehwals book it is said that this loan amount is nottransferred to capital a/c while in dk it is said that kt is transferred to capital a/c
so what is the matter
16 September 2016
It can be settled in either way - by way of paying through available payment mode or can set off or transferred to its capital account.
For further clarification, you may write us to info@wealth4india.com or Logon to www.wealth4india.com (online Tax Studio & Start-up Gateway)
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