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Busy entry

02 January 2022

Dear Sir,

Proprietor transfer some amount from current account to demat account for purchase of share please suggest entry in books.

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7 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 04 January 2022

Demat/investment a/c

To Bank a/c

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Naveen Kumar (729 Points)
Replied 04 January 2022

Sir, in which group I create the ledger demat account

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 06 January 2022

Either in deposit account or current asset group. Use current assets if you do short term transactions

Naveen Kumar (729 Points)
Replied 06 January 2022

Thank you Sir,

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 06 January 2022

Your welcome.

You know? don’t believe every manager is real. The only advantage with professionals is they know tax impact on deferred taxes. Otherwise what ever way we treat will balance the balance sheet. Example, this can be long term asset as well in tally and increase the fairvalue and recognise it like

Demant long term asset a/c

To revaluation gain a/c

if you recognise it as deposit account

Bank a/c

To Investment Income a/c

this is because you received income from trading, put it into bank.

Then if required for AS standard FVTPL investment purpose

Deposit a/c

To Revaluation account

like this it depends upon what kind of investments you have and what is the type of income you get.