I.t. Assess postal RD mature amount Rs:2 lacs received amount credited by capital account.if Assess monthly RD payments amount not debited capital account.
question:
Assess Rd mature amount shown in books allowed in I.t. act and accounting entries passed in books
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RD amount received
Replies (9)
Quick Summary
Where to show monthly RD payment amount
Rd monthly payments not show in books and I.t. returns
You allowed
Bank A/c Dr.
To Partners Capital A/c
Bank A/c Dr.
To Partners Capital A/c
Sir can you elaborate your query little more ???
The monthly payments towards the Recurring Deposit ( RD ) was not shown in the Books of Accounts ???
The monthly payments towards the Recurring Deposit ( RD ) was not shown in the Books of Accounts ???
Yes allowed
Can you elaborate your query little clearly
in balance sheet it is taken with capital account???
in balance sheet it is taken with capital account???
As per my understanding
Partner invested matured RD amount in Partnership Firm through capital account
Partner invested matured RD amount in Partnership Firm through capital account
Sir let the querist re-post his query clearly first
@ Mr. Shivam
Okay
Okay
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