Regarding fixed deposit
This query is : Resolved
09 December 2016
Respected Sir,
One of my client deposited an amount of 14,70,000 as FIXED DEPOSIT in his WIFE'S name. how to show this item in his balance sheet.please give me idea to clear this.
thanking you
One of my client deposited an amount of 14,70,000 as FIXED DEPOSIT in his WIFE'S name. how to show this item in his balance sheet.please give me idea to clear this.
thanking you
09 December 2016
This may be shown either as gift or loan but is shown as gift to wife the interest received on FD will be clubbed in the hands of husband u/s 64 so better to show it as loan.
09 December 2016
thank you very much sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- TDS AND ITR ISSUE
- TDS ON EMAIL DOMAIN SERVICE BILL
- GST Rate for Catering Services
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
