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Q. > Please Help: Loans credit and debit adjustment entry allowed in it act
One of the it assessess cash loan from creditor ledger balance rs:10 lacs cash loan to debtors ledger balance rs:12 lacs show in books as on dt:31-03-23.
Doubt: creditor outstanding ledger balance transfer to debtor outstanding ledger balance adjustment entry passed in books dt:20-6-23 allowed in it act and penalty applicable.
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