ENTRY OF BONUS
This query is : Resolved
14 March 2009
IF ASSESSEE HAS RECEIVED BONUS SHARE FROM COMPANY WHICH A/C HE SHOULD CREDIT.
14 March 2009
no entry is passed for receiving bonus share as it is not a transaction.
since consideration is nil.
for example if you got a radio free with a fan for your office, it does not constitute income, but it is a assets.
You should not pass any entry but debit the quantity column of bonus share in the investment in shares account, and at the time of selling any share use FIFO method or weight average to compute profit then,
Hope u understand regards.........!
since consideration is nil.
for example if you got a radio free with a fan for your office, it does not constitute income, but it is a assets.
You should not pass any entry but debit the quantity column of bonus share in the investment in shares account, and at the time of selling any share use FIFO method or weight average to compute profit then,
Hope u understand regards.........!
14 March 2009
i agree with Mr. Manmohan
14 March 2009
NO FINANCIAL TRANSACTION INVOLVED, BUT JUST ADD TO THE NUMBER OF SHARES WHICH YOU HAVE WHICH WILL EFFECTIVELY REDUCE YOUR PER SHARE COST
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