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CREATION OF CASH

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(Querist)
23 June 2011 MY FRIEND IS RUNNING A BUSINESS OF JEWELLARY AND HE IS FILLING RETURN FROM 10 YEARS . Now he wants to create some cash ( Baaki in business language ) on the name of her daughter so how he create cash for her daughter .
One method is through gift , if he show 100000 gift to her daughter and another 100000 ( out of pension income ) given by her maternal grand father so whats the accounting treatment in the books of her daughter as well as father and grand father and how we show it in balance sheet of business ( father )
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sivasankar

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sivasankar (Expert)
24 June 2011 Sir,
Is the daughter a minor or major.No clubbing if given to major.
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