Accounting for land sale by pvt ltd company in installments
This query is : Resolved
Vinod Ajmera
(Querist)
16 August 2011
My Client a Private Ltd Company have Two Directors & Shareholder Like A & B.
They make a agreement with same company to sold their individual Land to public in installments & Pay to company.
My question is what is the best accounting treatment of above transcation.
They make a agreement with same company to sold their individual Land to public in installments & Pay to company.
My question is what is the best accounting treatment of above transcation.
U S Sharma
(Expert)
16 August 2011
directors of same company selling land of self company? does it give any relief to them? tax can not be avoided / reduced by the company to any extent.
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