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(Querist)
21 December 2009 If any person has receieved gift of shares of Rs 5000000 from any other person,then what will be its accounting treatment??Secondly,If transferee has paid tranfer cost of Rs 100000 on that shares,then What would be the cost of the shares For transferee??plz rly.
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
21 December 2009 1. Shares A/c Dr 50,00,000
To Capital

2. Shares A/c Dr 1,00,000
To Cash/Bank

Cost is Rs.1,00,000 to the transferee.

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