Payment to his dependents

This query is : Resolved

raghavendra b (Querist)
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08 June 2019 DEAR SIR,

ONE OF MY CLIENT HAS FIXED AMOUNT IN HIS OWN NAME AND THE INTEREST OF THE DEPOSITED AMOUNT HAVE BEEN TRANSFER TO HIS SISTER DEPENDENT ACCOUNT BY EVERY MONTH. HE IS PAID 10000/- RS TO HIS SISTER FOR FAMILY MAINTENANCE BY A/C TRANSFER OR CASH. HOW TO TREAT THIS ENTRY. AND THE INTEREST INCOME CLUBBED TO HIS TOTAL INCOME. NOW MY QUESTION ITS TRANSFER TO CAPITAL DRAWINGS ACCOUNT OR ELSE. THE INTEREST INCOME ALREADY SHOWN IN HIS INCOME TAX RETURN INCOME FROM OTHER SOURCES.

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 June 2019 Yes transfer to capital drawings account.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 June 2019 Yes transfer to capital drawings account.

raghavendra b

raghavendra b (Querist)
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10 June 2019 THANK YOU SIR FOR YOUR REPLIES

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