banner_ad

Gift entry

A/c entries 638 views 1 replies

One of our assessee has received the gift of Rs. 1 lac in individual accounts. He is also carrying proprietory business in seperate name. Books of accounts are also maintained seperately. He transferred the gift amount to business. what will be the acconting entries in individual and business books of account???
 

 

Replies (1)
In personal books of account Dr. Personal bank account Cr. Gift Received Dr. Investment in Business a/c Cr. Personal bank a/c Now for business books of accounts Dr. Business Bank Cr. Capital a/c Replace bank by cash if transactions through cash. Gift deed be ready to avoid further disputes. Regards Raj C Doshi


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details