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Accounting treatment for donation given in kind to a trust

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V.C SaiRam (Querist)
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04 August 2013 sairamadithya831@gmail.com

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 August 2013 In the books of the owner the asset amount will be written off as donation.

There will be no treatment in the books of the trust since the asset is in kind. Only monetary transactions are recorded in the books of accounts.

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V.C SaiRam (Querist)
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08 August 2013 Thank you sir

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 August 2013 You are welcome. You should use the thanks button to convey your thanks.

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