Hello,
I the following query:-
1) I have carried forwarded outstanding Dr. / Cr. balances amongst the family members of Mr. X, (e.g. Mr. X has to Pay Mrs. X (Mr. X's Wife) an amount which is being carried forwarded from previous F.Y.) Now, can I show this amount as gift in the current F.Y. i.e. can I pass a J.V. Mrs. X A/c. Dr. To Gift A/c in the books of Mr. X.
Please Advice.
Thanks, In Advance.
MRS X ACCOUNT DR TO MR X ACCOUNT (BEING AMOUNT TRANSFER TO MR X AS CAPITAL INTRODUCED)
Malhotra Rajesh & Associates
New Delhi
B.Com
View Details
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
CCI
Pro
CAclubindia
