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Sankar Chakraborty (Querist)

20 October 2011 dEAR eXPERTS,

i am a salaried employee (accountant in a pvt ltd firm) and and only have income on salary and bank F.D. interest I Want to prepare my I.T file.

but when prepairing my 'Capital A/c' i can't understand what entries to come under capital a/c and profit & loss a/c ?

if any format available, please provide me

Aditya Maheshwari

Aditya Maheshwari (Expert)

20 October 2011 In case of salary income there is no need to prepare any P & L A/c and hence all the incomes like salary and interest would be credited to the Capital a/c and all other withdrawls, TDS, etc would be debited to the capital a/c.

CA CMA NARESH

CA CMA NARESH (Expert)

20 October 2011 You can prepare for capital account for better future (In the sense if you go 4 business you can show capital introduced as white income)...for more detail contact Naresh 9664386708

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