Sale Against Loan Taken
Sourabh Ambure (student and entrepreneur) (132 Points)
30 November 2018
Can Unsecured Loan taken adjusted by sale of goods to loan giving party ?
Sourabh Ambure (student and entrepreneur) (132 Points)
30 November 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 30 November 2018
| Originally posted by : Sourabh Ambure | ||
 |
Can Unsecured Loan taken adjusted by sale of goods to loan giving party ? |  |
Yes,
First pass an entry of unsecured loan to advance received from customer
and then advance to sale.
Sourabh Ambure
(student and entrepreneur)
(132 Points)
Replied 30 November 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 30 November 2018
| Originally posted by : Sourabh Ambure | ||
|
is it ok from income tax point of view in case of audit firm. | |
Yes
rama krishnan
(12234 Points)
Replied 01 December 2018
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 01 December 2018
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