Land near border
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2012
Can anyone please tell what will be the accounting treatment if land is purchased/sold near the Indian border? Which accouting standard will be applied?
OR Any other additional information?
OR Any other additional information?
11 November 2012
The land is to be classified in two categories i.e Agricultural and Non Agricultural. It does not matter where the land is situated. The profit or loss on sale of the land is again it has two aspects i.e Long Term or Short term. If you sale and capital gain is derived it is to be treated accordingly
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Rectification under processing even after 6 months cpc portal
- Appointment of Auditor By Form ADT-1
- Rent agreement of House of deceased person
- Import of Capital Machine
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
