Huf is dissolved due to death of karta

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Querist : Anonymous

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

CS,CA F,Numrologi TusharSampat

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

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2014 so accounting treatment would be????????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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

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

CS,CA F,Numrologi TusharSampat

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

Querist : Anonymous

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???

CS,CA F,Numrologi TusharSampat

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

Querist : Anonymous

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,,

CS,CA F,Numrologi TusharSampat

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

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Huf is dissolved due to death of karta

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