Dear all:
Should the gold jewelries, that a bride brings to her groom's home, be shown in her balance sheet?
If yes, how can we show that? A simple example would be of great help.
looking forward to your answer.
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Jewelry of bride
Replies (3)
Yes, you can show in fix assets of the balance sheet.
Ministry clarifies that “during the search operations, no seizure of gold jewellery and ornaments to the extent of 500 gms per married lady, 250 gms per unmarried lady and 100 gms per male member of the family shall be made”.
If those are shown under Fixed Asset, what would be her source of income for those jewelries? Can its worth be included under capital stating those as gifts received from her dad?
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