How to consider in the books of accounts
This query is : Resolved
30 April 2014
One on my client(trust) received a gift from another trust gift is (Hero Splendor) whether i have to consider as capital or fixed asset
please guide me in this regard
Regards
CHARAN
please guide me in this regard
Regards
CHARAN
Rupesh Jain
(Expert)
30 April 2014
if gift given for taking any assets then take as gift for assets.
otherwise take as income.
otherwise take as income.
Message likes :
1 times
30 April 2014
but the asset is being used by the donnee for the activities of the trust
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