Current account
This query is : Resolved
26 September 2014
I want to ask what exactly is the difference between current and capital account... In other words i wish to know what is current account
26 September 2014
where two separate accounts are maintained namely, capital account and current account, the logic is that capital account will not be touched for the day to day transactions between the firm and the partners. A current account will be maintained for transactions such as interest on capital, drawing, salary, profit share etc. This leaves the capital account intact.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR filing obligation due to savings deposit
- ITC availability for BOLERO-HILUX (HIGH AT, M1G) HLXX0
- Joint Account Closure
- Can Stamp duty taken as a expense
- NRI as second account holder of resident account
- To Keep Records
- Applicability of Ind AS on wholly owned subsidiary company (incorporated overseas)
- Advice on How to calculate the peak balance needed for schedule FA in India for US checking account?
- What is the last business transaction date for Voluntary Strike off?
- 2 factor authorization
- Regarding filing of appeal before high court against the order passed by Tribunal
- Spl02 waiver of interest and penalty
- Regarding Claim of ITC of FY 2020-21
- Form inc-24
- Regarding EPR Obligation Charges
- How to make any party sales or purchase recociliation
- E invoice mandatory for taxable value in a year 15 lakhs where as aggregate turnover is 6 crores
- TDS deduction.
- Regarding TDS deduction before 15CA filing
- ITC CLAIM ON CLEARING AND FORWARDING CHARGES IN CASE OF IMPORT
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
