How to show inherited movable properties in balance sheet ?

Soumya Laha (Advocate & Tax Consultant)   (4698 Points)

30 May 2019  

Suppose 'A inherited some movable properties such as Cash, Fixed Deposits, NSC, KVP after his father's death. 'A' is only legal heir and transferred his name in all movable properties. Now how 'A' will show his inherited movable properties in his Balance Sheet ?