DEAR COLLEAGUES,
A HOLDING COMPANY HAS TRANSFERED ITS CAPITAL ASSET TO ITS 100% SUBSIDIARY.
AND IS COVERED UNDER SECTION 47(IV) OF THE INCOME TAX ACT
KINDLY TELL ME HOW TO PASS THE JOURNAL ENTRY IN THE BOOKS OF BOTH ENTITIES
CA NITIN VERMA
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Journalization of transaction of holding and subsidiary
Replies (1)
Holding Company
1) Eq Share in Subsidiary A/c Dr
to Fixed Assets A/c
Subsidiary Company
Fixed Assets A/c Dr
To Equity share Cap
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