Gift received by pvt ltd company

what will be the accounting treatment of ventilator received as a gift by hospital(pvt ltd co) by another company under CSR.
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Quick Summary
This discussion explores the accounting entries for a private limited hospital receiving a ventilator as a gift under Corporate Social Responsibility (CSR) from another company. The primary treatment involves debiting the Ventilator Asset account and crediting the Charity/CSR account. It also touches upon potential tax implications and additional entries if tax is payable.

Ventilator Asset a/c

To Charity/CSR a/c

if there is tax payable on this, then add another tax entries

Company receiving ventilator is not applicaple for csr expenses its a simple hospital receiving ventilator as a donation by another company on whom csr is applicable

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