amit kumar agrawal (Article Trainee) (48 Points)
10 December 2014A company has received shares of another company in the form of GIFT. What would be the accounting entry of this transaction ?
CA RAHUL AGRAWAL
(Assistant Manager-Service Tax)
(1733 Points)
Replied 10 December 2014
As per me
Should be Debited under asset side Investment
and Credited to revenue under Misc.Receipts.
rohit
(Student CA Final )
(117 Points)
Replied 11 December 2014
I do agree with rahul. investment shuold be recognised at nominal value.
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