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RD amount received


kollipara sundaraiah (B.com)     21 November 2020

kollipara sundaraiah
B.com 
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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

JATINDER KUMAR (Accountant)     21 November 2020

JATINDER KUMAR
Accountant 
 189 likes  2647 points

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Where to show monthly RD payment amount

avater

kollipara sundaraiah (B.com)     21 November 2020

kollipara sundaraiah
B.com 
 14 likes  792 points

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Rd monthly payments not show in books and I.t. returns

JATINDER KUMAR (Accountant)     21 November 2020

JATINDER KUMAR
Accountant 
 189 likes  2647 points

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You allowed

Bank A/c Dr.
To Partners Capital A/c

avater

Shivam RC (Student)     21 November 2020

Shivam RC
Student 
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Sir can you elaborate your query little more ???

The monthly payments towards the Recurring Deposit ( RD ) was not shown in the Books of Accounts ???

JATINDER KUMAR (Accountant)     21 November 2020

JATINDER KUMAR
Accountant 
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Yes allowed

avater

ayusmita (Tax consultant)     21 November 2020

ayusmita
Tax consultant 
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Can you elaborate your query little clearly
in balance sheet it is taken with capital account???

JATINDER KUMAR (Accountant)     21 November 2020

JATINDER KUMAR
Accountant 
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As per my understanding

Partner invested matured RD amount in Partnership Firm through capital account

avater

Shivam RC (Student)     21 November 2020

Shivam RC
Student 
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Sir let the querist re-post his query clearly first

JATINDER KUMAR (Accountant)     21 November 2020

JATINDER KUMAR
Accountant 
 189 likes  2647 points

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@ Mr. Shivam

Okay


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