Please Help: Accounting of assets inherited
Posted Date : 09-May-2011 , 11:06:16 am | Posted By: Rakesh Narang
Category :
Accounts | Answers :
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Comments :
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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 |
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Answers:
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 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
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| Answer by: Rishabh Upadhyay |
| will be part of corpus
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| Answer by: Vikash Kumar Jha |
| Yes
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| Answer by: Vaneet Gupta |
| Yes
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| Comments |
| Posted By : PRIYANKA |
13-May-2011, 12:32:14 |
| I 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. |
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