Inheritance of Assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2011
If an asessee receives assets through inheritance from his mother, the value of asset should be recorded in the book of asessee in the market value or cost as per the books of asessee mother
15 June 2011
Assets received in inheritance are recorded at cost to the previous owner. So show the assets as per the balance sheet of the mother.
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