Please refer to Form 3CD, point no.13, that reads as follows:-
Amount not credited to Profit/Loss A/c being:-
a) Items falling within sec. 28.
b)
c)
d) Other item of income.
e) Capital receipts, if any.
Do interest assessable under head "Other Sources" and credited to Capital A/c of Proprietor or
Partner needs to be repoted here?
| Originally posted by :SSG | ||
| " | Please refer to Form 3CD, point no.13, that reads as follows:- Amount not credited to Profit/Loss A/c being:- a) Items falling within sec. 28. b) c) d) Other item of income. e) Capital receipts, if any. Do interest assessable under head "Other Sources" and credited to Capital A/c of Proprietor or Partner needs to be repoted here? |
" |
Now should I say that there is no one who can solve my query???
According to me it should be reported . Any credit to the capital account being in the nature of income assessble under other heads or otherwise is treated as addition to capital ,therefore it can be regarded as a capital receipt and reported accordingly in 3CD.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
