Voluntary contributions
This query is : Resolved
Sowmya.S.Balan
(Querist)
05 September 2012
dear sirs,
a trust is receiving land as gift. only the documentation charges are incurred by the trust. so such amount is only shown in accounts. whether market value of land to be shown in accounts ? whether such market value of land becomes voluntary contributions in kind ?
a trust is receiving land as gift. only the documentation charges are incurred by the trust. so such amount is only shown in accounts. whether market value of land to be shown in accounts ? whether such market value of land becomes voluntary contributions in kind ?
Amol S Joglekar
(Expert)
05 September 2012
Donation versus CORPUS. Is the land donation or CORPUS. Please make sure that. In kind donations are accounted for at FMV.
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