Can LLP take loan from bank Certainly, a Limited Liability Partnership generally has the ability to obtain a loan from a bank or other financial institution, as long as it meets the lender’s approval criteria and demonstrates adequate creditworthiness. Many banks offer specialized loan products specifically designed for businesses, including LLPs. It fulfill… Read More »
Are Certificates of Deposit (CDs) Liquid Assets When managing personal finances, understanding what constitutes a liquid asset is essential. Liquid assets are assets that can be swiftly and effortlessly converted into cash without a loss in value. Common examples include cash, checking accounts, and some types of investments. But where do Certificates of Deposit… Read More »
No Due Certificate From A No Due Certificate from bank is a document issue by the bank to confirm that an individual or organization has no outstanding dues or liabilities towards the bank. It serves as proof that all financial obligations, such as loans, credit card payments, or any other financial liabilities, have been… Read More »
Cash Paid into a Bank Website link The journal entry for cash paid into a bank depends on the source or reason for the cash payment. If the cash represents an increase in the company’s own funds, such as cash from sales or cash received from investors, the journal entry would be as follows: Debit:… Read More »
Introduction Taxpayers in India often seek ways to reduce their taxable income through various exemptions and deductions provided under the Income Tax Act. One such provision is Section 80TTA, which offers tax benefits on interest income earned from savings accounts. This article provides an in-depth explanation of the 80TTA exemption, covering its definition, benefits, usage,… Read More »
