Can you please guide me how to record the return of unrecorded investment in our accounts as well as how it will affect our gross total income.
eg. an unrecorded return on investment of Rs. 3,30,000/- was received through cheque while original investment was of Rs. 3,00,000/- how should i treat it in accounts as well as income tax.
do you mean to say that out of 3.30lacs recd 3lacs is towards the intital investment and 30k is towards interst or entire 3.30lacs recd is towards inetrset.
| Originally posted by : Giridhar S Karandikar | ||
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do you mean to say that out of 3.30lacs recd 3lacs is towards the intital investment and 30k is towards interst or entire 3.30lacs recd is towards inetrset. |
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30k is towards interest
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