Agriculture land for partners
This query is : Resolved
02 September 2021
Sir,
A partnership firm working in two partners.purchases of agriculture land rs:10 lacs value name for 1st partner.but payment rs:8 lacs 1st partner and rs:2 lacs 2nd partner.
Question:
Purchase of agriculture land rs:10 lacs value show in partnership firm and partners individual account in it act.
A partnership firm working in two partners.purchases of agriculture land rs:10 lacs value name for 1st partner.but payment rs:8 lacs 1st partner and rs:2 lacs 2nd partner.
Question:
Purchase of agriculture land rs:10 lacs value show in partnership firm and partners individual account in it act.
02 September 2021
Partnership firm purchased the agricultural land, so show it in partnership firm.
Land can't be purchased in firm's name as it's not a legal entity.
Land can't be purchased in firm's name as it's not a legal entity.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- GST not cancelled by tenant
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
