Acquired by Gift
This query is : Resolved
10 May 2010
what is the accounting treatment of investment acquired by gift in the hands of donor & donee.
Aditya Maheshwari
(Expert)
10 May 2010
In case of donee is individual Credit the capital account as gift received with the amount as paid by the person whose assets have been received as gift and debit the relevant asset head.
In case of donor is individual debit the capital account as gift given and credit the relevant asset head.
In case of donor is individual debit the capital account as gift given and credit the relevant asset head.
10 May 2010
What will be the entries in case donor & donee both are companies & at what value it will be shown in the books of donee.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- GSTR-9C filing
- GST input credit on commercial property
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
