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Stock transfer

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2011 Hi All,

MR X transfers goods to MR Y , both are brothers, Can we treat the goods as purchases in Mr Y s books or How the entry should be in tally ?
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CA. Nitin Agrawal

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CA. Nitin Agrawal (Expert)
18 September 2011 Entry will be same as to purchase from other person.


Purchase A/c Dr
To Mr. X
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2011 Oh thanx for the reply, But i think i did not quote the full situation,
Actually the transfer took place without any consideration . So is that just a transfer ?
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CS Bijoy

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CS Bijoy (Expert)
20 September 2011 If there is two branch operating by two branch of the same company than form F required and entry will made as transfer but in other case purchase entry need to made.
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