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FD transaction
My client had professional fees Income of Rs. 2,40,000 P. A... For that TDS deducted @ 10% by the company...And her husband working in abroad. She recieved money from husband of Rs. 3,00,000/-...She immediately invested in Fixed Deposit at bank. In this year earlier deposited FD matured...of Rs. 6,54,558/-(interest included 45,457/-). She gives Rs. 5,00,000/- cheque to her mother.. Note- My query is.. How to show the transactions in balance sheet? 1.Amount recieved by her Husband 2.Cheque paid to her mother.. 3.how to disclose matured undisclosed old FD accounts which not shown in last year?
Replies (2)
1. Loan liability 2. Loan asset 3. Capital Introduced under capital account or redraft the earlier balancesheets in case balancesheet not submitted with income tax return.
thank you sir
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