Accounting for sec. 56(2)(vii)

Raj Kumar (--) (98 Points)

22 July 2014  

Hii Viewer's,

You all know if a property is received for inadequate or without consideration, is taxable in the hands recepient,

But my quwstion is this , how can we show this transaction in the books of accounts of the recepient.

If you have an idea regarding this, then pls share it

 

Thanks