share in pvt ltd company

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Sankar Chakraborty (Querist)
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22 July 2010 we have two Pvt. Ltd Company named X, Y.
X sold share to Z (third party) after submission of Form 2, then Y purchase share from Z by paying cheque.

My problem is what is the entry to be made in the books of Y for this share purchase from Z ?

Is there any entry to be made in the books of X ?

please help by answering.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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22 July 2010 When X sold to Z
Z/BANK ------------DR
TO, INVESTMENT IN SHARE
(BALANCING FIGURE WILL BE CAPITAL LOSS OR GAIN)

WHEN Y PURCHASED FROM Z

INVESTMENT IN SHARE -----------DR
TO, Z/BANK