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Q. > Please Help: Accounting of assets inherited
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
answered Jun 08, 2011 by CA VIKAS JAIN , DELHI
yes this will bcome the part of corpus as receive with specific instruction to be used as old age home or liabrary
answered Apr 22, 2013 by Rishabh Upadhyay , Chandigarh
will be part of corpus
answered May 29, 2013 by Vikash Kumar Jha , Cuttack
Yes
answered Oct 01, 2013 by Vaneet Gupta , Delhi
Yes
Experts Panelist
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.