banner_ad

Income on investment

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 August 2018 WHAT SHALL BE THE ACCOUNTING ENTRY FOR INCOME RECEIVED ON INVESTMENT BY BUSINESS PROPRIETOR,,,

WHETHER INCOME RECEIVED SHALL BE CREDITED IN CAPITAL ACCOUNT (BEING PROPRIETOR'S PERSONAL INCOME) OR IT SHALL BE CREDITED IN P& L ACCOUNT....

KINDLY NOTE ABOVE QUERY IS IN RELEVANT TO INCOME TAX PURPOSE

THANKS...
Profile Image

KAVIRAJA ADDANGADI

Profile Image

KAVIRAJA ADDANGADI (Expert)
12 August 2018 You can Transfer Profit after adjusting income tax to capital account

Dr Profit and loss A/c
Cr Income Tax payable (extent of Income Tax)
Cr TDS receivable (if TDS deducted)
Cr Advance Tax ( Advance Tax Paid)
Cr Capital A/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details