Please Help: Accounting of assets inherited
Posted Date : 09-May-2011 , 11:06:16 am | Posted By Rakesh Narang
A society doing charitable work has got two immovable properties as per registered will of a member of the society that the said properties will be used as Old person home / library . Will it form part of Corpus Fund?
Kindly tell me how
Kindly tell me how
Category : Accounts | Answers : 4 | Comments : 1 | Hits : 539
Answers
Answer By: CA VIKAS JAIN
yes this will bcome the part of corpus as receive with specific instruction to be used as old age home or liabrary
Answer By: Rishabh Upadhyay
will be part of corpus
Answer By: Vikash Kumar Jha
Yes
Answer By: Vaneet Gupta
Yes
Comments
PRIYANKA
13-May-2011 , 12:32:14 pmI Think that if some more detail can be provided by u about words of the will then it wud be easy to answer..generally anything becomes part of corpus fund only when it is specifically mentioned at the time of giving such sum/ property/or any other thing..that such thing wud form part of corpus fund of that society...in the absence of such specific mention..generally it does not form part of corpus fund.