It Assess outstanding ledger balance as on date:01-04-20 in books.
Cash loan from relative Mr.A Rs:4 lacs
Cash loan to relative Mr.B Rs:5 lacs
Cash loan from relative Rs:4 lacs amount balance transfer to cash loan to relative account adjustment entries passed in books Dt:31-03-21.
Above transactions provision sec 269ss and sec 269st applicable and allowed in it act.
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