Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Stock transfer

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

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 ?

CA. Nitin Agrawal

CA. Nitin Agrawal (Expert)
Follow

18 September 2011 Entry will be same as to purchase from other person.

Purchase A/c Dr
To Mr. X

Querist : Anonymous

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 ?

CS Bijoy

CS Bijoy (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now