Agriculture land
This query is : Resolved
02 February 2016
i have agriculture land 3 acres at will not registered on me.. i am showing income frm agriculture land in my returns. i have not shown agl land in balance sheet. how can i shown in balance sheet aftr registration???
02 February 2016
Have you purchased the agricultural land? or inherited? If inherited, you may show, to the extent of market value as agricultural land in fixed assets (if you show in current assets, you cannot claim capital gains exemption benefit in case of sale) and increase the capital account balance to that extent.
In case of purchase, I need not tell you how to show.
In case of purchase, I need not tell you how to show.
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06 February 2016
if i have registered agriculture land which i purchased in few years (long ago) back nd not shown in balance sheet. now how to show in my balance sheet?? after shown wt are the problems rise by IT Dept.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
if i have registered agriculture land which i purchased (long ago) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
Show the agricultural land purchased under the head Investment assets or Fixed Assets (not as stock-in-trade under Current Assets) with the purchase amount and expenses incurred for purchase of the land such as registration expenses, stamp duty etc. (i.e. historic cost). This fulfils the asset side of the balance sheet. On the liabilities side of the balance sheet, increase capital amount to the extent of the amount shown for that asset in the assets side of B/s.
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