S U Nair (Accounts Officer) (79 Points)
24 July 2012Mr A Invested a lumsum amount to start a hotel and he is a director of the Hotel. Now a day he is getting a lum sum amount from Hotel considered as capital on interest after deduction of TDS. whcich type entry i will pass in his personal account.
1) Journal Entry and Receipt entry.
Regards
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 24 July 2012
what do you mean by Capital on interest. What is the basis for considering the lumpsum amount recd as capital on itnerset?
Brajesh gautam
(student)
(232 Points)
Replied 29 July 2012
Mr nair , do you mean interest on capital , first add the interest on capital to capital a/c & then if you want to make paymnet that would be drawing.
&
you are deducting tds , i m not sure on tds on interest on capital that this should be done.
expert view are suggested.
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