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RD amount received

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B.com
3021 Points Posted on 21 November 2020
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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On 21 November 2020 at 13:51 Report
Replies (9)
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Accountant
3662 Points Posted on 21 November 2020
Where to show monthly RD payment amount
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On 21 November 2020 at 13:58
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B.com
3021 Points Posted on 21 November 2020
Rd monthly payments not show in books and I.t. returns
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On 21 November 2020 at 14:16
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Accountant
3662 Points Posted on 21 November 2020
You allowed

Bank A/c Dr.
To Partners Capital A/c
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On 21 November 2020 at 14:31
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Student
23688 Points Posted on 21 November 2020
Sir can you elaborate your query little more ???

The monthly payments towards the Recurring Deposit ( RD ) was not shown in the Books of Accounts ???
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On 21 November 2020 at 14:44
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Accountant
3662 Points Posted on 21 November 2020
Yes allowed
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On 21 November 2020 at 14:46
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Tax consultant
5895 Points Posted on 21 November 2020
Can you elaborate your query little clearly
in balance sheet it is taken with capital account???
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On 21 November 2020 at 16:05
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Accountant
3662 Points Posted on 21 November 2020
As per my understanding

Partner invested matured RD amount in Partnership Firm through capital account
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On 21 November 2020 at 17:34
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Student
23688 Points Posted on 21 November 2020
Sir let the querist re-post his query clearly first
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On 21 November 2020 at 17:50
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Accountant
3662 Points Posted on 21 November 2020
@ Mr. Shivam

Okay
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On 21 November 2020 at 19:39

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