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Housing topup loan

22 August 2018

Dear all

can you tell me accounting entry in tally for housing top up loan taken for bank which is credited in loan account directly instead to any party

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2 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 22 August 2018

Loan taken shall be debited to Bank account and credited to Secured or unsecured loan account

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Rahul Vinchu (39 Points)
Replied 22 August 2018

Thanks Madam,

But if do so its shows bank A/C balance where in that case in that bank no any other account is present other than this loan account, No doubt amount credited in Loan account under Secure loan A/C but as bank has directly credited amount in loan a/c which account to be debited ?