EXISTING AMOUNT OF RS.3000000/- RECEIVED THROUGH BANK FROM CLOSE RELATIVE CAN IT BE CONVERTED IN TO GIFT DURING THE CURRENT FY THROUGH GIFT DEED.
1 Replies
Prerna Siddhu
(other)
(291 Points)
Replied 09 March 2019
Whether the amount was received in same FY?
If yes, then change it to gift account from the date of receipt.
Recent Topics
- Is TCS applicable on sale of used car by a Compnay
- Hsn wise data in GSTR 1
- Accounting treatment of Conversion of a part of Ag
- AO's Query on Bad Debt Claim – Need Guidance
- Capital account entry in tally
- TDS Applicability on Commercial Photography & C
- CSR via Trusts and Form 10BE - Legality of 80G Cla
- NRO Conversion vs Closing Account and Gifting to M
- Exchange gain loss
- Donation to Prime Minister Relief Fund
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
