Huf is dissolved due to death of karta

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2014 If huf is dissolved due to death of karta n balance in bank has been transffered to th family members.. what is the accounting treatment in books of accounts of huf n members of the family
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 it is like amt rec in inheritance or on dissloution..........
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2014 so accounting treatment would be????????
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 introduction of capital...eg if u rec cash then


cash a/c...dr
to capital a/c
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2014 we can also consider it as gift??? ultimately it will trff to capital account.. gift is fully exempt ryt
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 then there has to be a gift deed in this regard to prove it as gift.
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2014 OK DEN I WILL PASS ABOVE ENTRY IN THE BOOKS OF MEMBER ...WHAT ENTRY SHOULD I PASS IN BOOKS OF KARTA???
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 all asstes will be credited and will be debited to those who are recieving it.
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2014 WE ARE PAASING ENTRY IN THE TALLY...SO I SHOULD OPEN THEIR LEDGER IN HEAD???
I MEAN UNDER UNSECURED LOAN,,
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 create co-parcerners a/c and then pass enrty.....................
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