18 September 2012
our company is entertainment industry, received life time membership fees from person in lacs of ruppes. what to do? accounting entry and tax-ability of it. please sir inform me in this regard
18 September 2012
Not able to get COMPANY and LIFE MEMBERSHIP Fee.... What sort of life membership is this? I can understand such head in CLUB / SOCIETY /TRUST. Please enlighten how this is done under COMPANY form of organisation. How many shares are allotted? (By the way, I fully uphold the answer by CA Ayush)