funds received for the purpose of shares but booked as income in the boos of accounts https://www.taxtmi.com/forum/issue?id=111820 Funds received from abroad in US dollars for purchase of shares were recorded in the books as income; the enquirer requests guidance on corrective accounting steps to reclassify the receipt to reflect its true purpose as share subscription, and forum replies only sought clarification without providing remedial instructions. en-us Sat, 22 Apr 2017 23:03:18 +0530 Thu, 23 Jan 2025 15:55:56 +0530 TaxTMI RSS Generator funds received for the purpose of shares but booked as income in the boos of accounts https://www.taxtmi.com/forum/issue?id=111820 Funds received from abroad in US dollars for purchase of shares were recorded in the books as income; the enquirer requests guidance on corrective accounting steps to reclassify the receipt to reflect its true purpose as share subscription, and forum replies only sought clarification without providing remedial instructions. Discussion-Forum FEMA Sat, 22 Apr 2017 23:03:18 +0530 https://www.taxtmi.com/forum/issue?id=111820