Husband introduced capital in the partnership firm on behalf of wife

ADNAN HUSSAIN (Student CA IPC / IPCC) (157 Points)

24 July 2020  

Hello,

i have a partnership firm in which my mother is one partner and some other person is one partner.

We are the investing partner and the whole capital was introduced by us.

here the point is that my father has introduced Rs. 10 lakhs in the firm on behalf of my mother.

So my query is in the income tax and books of accounts how shall i show this??