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interest on IT Refund

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(Querist)
06 June 2017 sir interest on IT Refund ....can we take under capital accounts....?
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
06 June 2017 Yes same is to be shown in Capital A/c.
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Madhu M

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Madhu M (Querist)
06 June 2017 whom to use receipts & payments account ... whom to use income & expenditure accounts whom to use profit and loss accounts......please tell me ....
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
06 June 2017 P & L used for all trading dealers ,Rec & Payments and Inc & Exp for profesional, trust.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
06 June 2017 Interest can be grouped in Capital A/c but for same income to be declared under income tax from Income from other sources.

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