Membership fees

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Ashish Chaurasia (Querist)
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17 April 2012 Hii freinds..
Can u tell me the accounting treatment of Lifetime Membership fees received by a charitable Trust...?
Plz reply
Its urgent..

Durgesh Laddha

Durgesh Laddha (Expert)
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17 April 2012
Cash\Bank a\c Dr.
and credit to fees account

ca cs shriyans jain

ca cs shriyans jain (Expert)
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18 April 2012 I agree with the experts say.

Ashish Chaurasia

Ashish Chaurasia (Querist)
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18 April 2012 Whether the lifetme membership fees should be shown in Income & Expenditure A/c...?

CA Himanshu Sharma

CA Himanshu Sharma (Expert)
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18 April 2012 it should be shown in corpus account in balance sheet not in I/E a/c

CA Rakesh Goenka

CA Rakesh Goenka (Expert)
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18 April 2012 agree with above expert

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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20 April 2012 Membership Fee is never for corpus of the Trust. If the bylaws provides then yes otherwise it is a revenue receipt. Only donation is for specific purpose say for construction of building or hospital or anything else. Credit Life Membership Fee and transfer the same on yearly basis by estimating the number of years and pass a resolution it it is not in the bylaws.

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