WHAT IS MEANING OF THIS?

REVENUE DOES NOT INCLUDE
CERTAIN TRANSACTIONS OR EVENTS THAT RESULT IN UNREALISED OR REALISED GAINS NAMELY

HOLDING OF NON-CURRENT ASSETS,HOLDING OF CUREENT ASSETS

my mother's brother died in 2009. as per will my mother was supposed to receive rs.1.25 crores and balance among other relatives. I was appointed to realise the money from the assets and distribute to the relatives.

consequently i transferred all the money which was realised frm the estate into my saving bank account and made payments to the relatives as per their share. in between my mother died and i am the only son so her share was kept in my my account only.

my question:

1.)what entry should be passed for receiving the entire realised amount into my persoanl saving a/c??

2.) what entry should be passed for distribution to the relatives??

3.) how to show my mothers share that i received??


urgently waiting for reply.
thanks in advance
my id abhipcc@rediffmail.com

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Dear Experts,
On the company which i am auditing they have capitalised the CENVAT and VAT paid for the fixed assets. For the 2nd year while claiming depreciation they have also claimed including the CENVAT and VAT. As per my knowledge CENVAT and VAT should not be capitalised and it has to be reversed.

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With regards,
Rajesh

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