ENTRY FOR PURCHASE OF BUILDING BY LOAN
This query is : Resolved
22 October 2019
WE PURCHASED A CONTRUCTED BUILDING OF 3FLOORS IN THE NAME OF COMPANY FOR RS.70,00,000/-. WE TOOK LOAN OF RS.52,50,000/- FROM OUR BANKER KOTAK BANK AND BALANCE PAID FROM OUR ACCOUNT TO THREE SELLERS OF RS.26,25,000/-, RS.26,50,000/- AND RS.17,50,000/-. WE INCURRED THE EXPENSES OF STAMP DUTY OF RS.3,57,000/-, RS.70,000/- AND RS.35,000/-. ALONGWITH THIS WE HAVE PAID RS.36108 TOWARDS INSURANCE.
LOAN AMOUT: 52,50,000/- AT A INTEREST RATE OF 9.6% REPAYMENT PERIOD 120MONTHS
COULD YOU PLEASE SHOW THE ENTRY FOR THE SAME.
LOAN AMOUT: 52,50,000/- AT A INTEREST RATE OF 9.6% REPAYMENT PERIOD 120MONTHS
COULD YOU PLEASE SHOW THE ENTRY FOR THE SAME.
22 October 2019
bank account debit for receipt of money
Credit the banker
Debit the banker
Credit Term loan ( Lon tern loans and advances) - xxx bank.
Credit the banker
Debit the banker
Credit Term loan ( Lon tern loans and advances) - xxx bank.
22 October 2019
THANKS YOU SIR,
WHAT ABOUT THE EXPENSES INCURRED FOR THIS PURCHASE. HOW TO BOOK THIS EXPENSES ENTRY
WHAT ABOUT THE EXPENSES INCURRED FOR THIS PURCHASE. HOW TO BOOK THIS EXPENSES ENTRY
22 October 2019
You may capitalize the stamp duty paid in the asset purchased.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- 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
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
