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Capital account

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2014 if i purchase FD in current year . can i show it to expense side of capital account.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
15 September 2014 its not an exp but an investment u need to show it under investments in balance sheet
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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2014 but in case of payment in LIP then it is shown in capital account, plz reply
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
15 September 2014 You have option of not expending out the LIP in case of money back plans and keep it as an asset. In such cases, it wont be shown on the debit side of the Cap A/c . However, in case, FD can be shown on the debit side.
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