Shares
Rateesh (Accountant) (95 Points)
17 June 2016Rateesh (Accountant) (95 Points)
17 June 2016
TESORO CONSULTANCY
(148 Points)
Replied 17 June 2016
Dear Ratheesh, is in that account any profit arised out of trading ? Whether the activity is trading or investing..if it is investing activity where he hold shares more than 12 months..then there is no capital gain will attract and you can simply treated as a capital receipt.
Rateesh
(Accountant)
(95 Points)
Replied 17 June 2016
Dear Sir,
Thanks for reply, my query is what is the entry will so his monthr's books of account beacsue he is expire.
Thanks & Regards
Rateesh
TESORO CONSULTANCY
(148 Points)
Replied 17 June 2016
Debit - Bank Account
Credit - Her Capital or Current Account
Rateesh
(Accountant)
(95 Points)
Replied 17 June 2016
Entry will know what type of income will show her books of accounts.
Thanks & Regards
Rateesh
TESORO CONSULTANCY
(148 Points)
Replied 17 June 2016
Dear Rateesh, In her account it will not treat as income and it will be treated as capital receipt, so that is the reason we are passing the entry. The receipt is only a capital nature.
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