QB Issue Resolution:
you will have to ask a tax accountant in India concerning tax questions
In the US….
you use partner equity investment to offset the deposit you make for his investment
I recommend you have the following for owner/partner equity accounts (one set for each partner if a partnership)
owner/partner equity drawing – you record value you take from the business here
owner/partner equity investment – record value you put into the business here
In the US owner/partner investment does not create any tax implications
Resolution for Issue 'What are the tax liabilities from the amount received from the partner ? How to show in the quick books effecting into books of accounts?' available: Yes (Solved).
Source: Intuit Community forum.
What are the tax liabilities from the amount received from the partner ? How to show in the quick books effecting into books of accounts?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for equity account
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for equity account [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: