I need urgent cash of Rs.100000 , so my father gives me Cash , then on same day I transfer Rs.100000 Online into his bank Account. I like to know how this things enter in my tally.
Please guide me step by step..
Thanks
5 Replies
Abdulla Bhanpurawala
(14 Points)
Replied 16 July 2019
in cash we can give only 20000/- loan in a year and repayment by way of banking mode only. so you can't take 100000/- cash loan
Abdulla Bhanpurawala
(14 Points)
Replied 17 July 2019
create ledger of your father in loans liability head.and when you receive payment credit the account
Abdul Gaffar
(4 Points)
Replied 13 December 2022
You cannot take cash loan from any one more than Rs.20000 in a financial year.
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