Menu
Investment and capital
in sole proprietor ...fixed deposit is shown under investment then any surplus that one received will come under "capital account or profit and loss income"....????
what will be scenario the if we show fixed deposit under capital account...>>>
Replies (4)
Then payment toward FD will be treated as drawing n interest on FD will be treated as capital introduced
Then payment toward FD will be treated as drawing n interest on FD will be treated as capital introduced
Then payment toward FD will be treated as drawing n interest on FD will be treated as capital introduced
In sole proprietoship concern, when you show FDs under investment then surplus arising therefrom goes to P&L account. However, if we show it under capital account then payment towards FD will be drawings and any interest or lump sum payments received will also be added to the capital account if the transactions take place through bank account appearing in the books .
Recent Threads
- Un claim ITC
- Form 49AA - OCI card holder applying for PAN card
- Section 54f and Sale between father and Son.
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
Related Threads
CAclubindia
