Balance sheet - market value or purchase value
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2016
respectedsir
while preparing balance sheet for the purpose of bank lone i have to include one of my vacant sites (offered as collateral security) under fixed assets . and it was purchased 20 years before at the cost of thirty thousand rupees and present market value as certified by charted engineer is 40 laks.i like to know that , whether i have to show the purchase value (as per the purchase document) or market value of my site.
thanking you
while preparing balance sheet for the purpose of bank lone i have to include one of my vacant sites (offered as collateral security) under fixed assets . and it was purchased 20 years before at the cost of thirty thousand rupees and present market value as certified by charted engineer is 40 laks.i like to know that , whether i have to show the purchase value (as per the purchase document) or market value of my site.
thanking you
22 November 2016
U must show it as market value.
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
