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Unrecorded investments

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2017 In the b/s of march 16 an autosweep a/c was not shown but during the p.y 16-17 its closure are received and interest is also received during the year and tds is also deducted on it.
Plz tell me how its accounting would be done now??
M not having the previous year data.
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Amol S Joglekar

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Amol S Joglekar (Expert)
24 June 2017 you can account for the interest income AND the closure amount you can add to capital account.
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2017 Then what would be it tax consequences??
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Amol S Joglekar

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Amol S Joglekar (Expert)
26 June 2017 how much is the amount as compared to your income?
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