I.t. Assess postal RD mature amount Rs:2 lacs received amount credited by capital account.if Assess monthly RD payments amount not debited capital account.
question:
Assess Rd mature amount shown in books allowed in I.t. act and accounting entries passed in books
9 Replies
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 21 November 2020
Where to show monthly RD payment amount
Kollipara Sundaraiah
(B.com)
(2982 Points)
Replied 21 November 2020
Rd monthly payments not show in books and I.t. returns
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 21 November 2020
You allowed
Bank A/c Dr.
To Partners Capital A/c
Bank A/c Dr.
To Partners Capital A/c
Shivam RC
(Student)
(23683 Points)
Replied 21 November 2020
Sir can you elaborate your query little more ???
The monthly payments towards the Recurring Deposit ( RD ) was not shown in the Books of Accounts ???
The monthly payments towards the Recurring Deposit ( RD ) was not shown in the Books of Accounts ???
ayusmita
(Tax consultant)
(5885 Points)
Replied 21 November 2020
Can you elaborate your query little clearly
in balance sheet it is taken with capital account???
in balance sheet it is taken with capital account???
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 21 November 2020
As per my understanding
Partner invested matured RD amount in Partnership Firm through capital account
Partner invested matured RD amount in Partnership Firm through capital account
Shivam RC
(Student)
(23683 Points)
Replied 21 November 2020
Sir let the querist re-post his query clearly first
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