Accounting Treatment of Longterm capital gain
This query is : Resolved
09 December 2019
Please suggest me proper accounting entry for long term captital gain in company. for example building sold Rs. 90 and cost is 35 so what should be entry of capital gain in books of account of rs. 55.
14 June 2020
Indexation needs to be carried out. The below is one general entry for your reference.
Bank - Dr.
Land - Cr
Capital Gain - Cr.
Bank - Dr.
Land - Cr
Capital Gain - Cr.
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