Accounting of Shares Received from Mother Will
This query is : Resolved
AMIT RAMPURIA
(Querist)
17 June 2020
Dear Friends,
I have received some shares from mother will in the year 2013 and Demat them in the year 2019.
But the accounting entries was not yet done in the books of account.
In the year 2020, i have sold some shares and received money in my bank account.
Also i have submitted my final accounts under ITR-3 for the assessment year 2019-2020.
I have no value of shares in my mother file so what procedure should i take ?
Please let me know
1. How to do book entries and what cost of shares to be taken in books at the time of entry ?
2. How to calculate gain/loss ?
I have received some shares from mother will in the year 2013 and Demat them in the year 2019.
But the accounting entries was not yet done in the books of account.
In the year 2020, i have sold some shares and received money in my bank account.
Also i have submitted my final accounts under ITR-3 for the assessment year 2019-2020.
I have no value of shares in my mother file so what procedure should i take ?
Please let me know
1. How to do book entries and what cost of shares to be taken in books at the time of entry ?
2. How to calculate gain/loss ?
09 August 2020
https://cleartax.in/s/capital-gains-income
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