Gift from wife to husband

How to pass entry for received gift - A/c entries - Accounts https://www.caclubindia.com/forum/how-to-pass-entry-for-received-gift-171286.asp

you will have to show this 50000 as a liability in your books on the name of your wife & in your wife's account - your name has to show under debtors side . 

Originally posted by : NARENDRA
	you will have to show this 50000 as a liability in your books on the name of your wife & in your wife's account - your name has to show under debtors side .

Hi Mr Narendra,

Why it's under the head as per you...??

Please share, Is there any reason...???

Yes you are right Sir, one should be kept in Capital .............. 

From an accounting perspective, this transaction is often not recorded in your personal financial records because it's considered a transfer of funds within the family. However, it's still a good practice to maintain clear records of all financial transactions. You and your wife may want to keep records of the gift in your personal financial journals or records as a matter of personal financial management.