One time Investment in March 2021 Rs.- 50000/-
Monthly Return - 4450 for 2 years
1st Year total Amount received till March 2022-Rs.53400/-
1) Kitna amount taxable hoga in March 2022 ???
2) Investment value kitna show karna hai Balance sheet (2022) ???
Menu
Tax Treatment (Investment)
Replies (6)
Quick Summary
You have to show ROI Rs.53400/- as earnings of Mar'22 on accrual basis and show the Investment Value in Balancesheet as Rs.103400/- because you can withdraw after the completion of reqd period...
1) Taxable amount will be 28400 i.e (53400 total value -25000= 50% of invested value)
2)Show in Balance Sheet only investment value of Rs 25000
Reply May differ from person to person in this scenario.
2)Show in Balance Sheet only investment value of Rs 25000
Reply May differ from person to person in this scenario.
One time investment in mar 2021 in balance sheet -50000
monthly return-is shown as income in income as 4450 this will add up to 53400.If last month interest not received then show it under accrues income. Add to investments.
After completion period you can withdraw. If it's an insurance then after completion of certain period it will be done.
Sec 10
monthly return-is shown as income in income as 4450 this will add up to 53400.If last month interest not received then show it under accrues income. Add to investments.
After completion period you can withdraw. If it's an insurance then after completion of certain period it will be done.
Sec 10
Completely disagree on this matter with you sabyasachi
It is as per schedule VI COMPANIES ACT 2013. SO U DISAGREE WITH COMPANIES ACT.
In my opinion, it is similar to lending amount and recovering the same in the form of emi. so apportion the principal and interest components accordingly and reflect the same in bs and pl account. my view is not based on any accounting standards but purely on rationale thinking
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
CAclubindia
