Land purchase for it

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 July 2013 I bought land of Rs.12,50,000 ( Govt. Value )
the date of 26.02.2013. for Income tax filling for the Asst.year 2013-14. The land purchase how to treat.

Note : This land purchase (Transfer) to My Father property. No money paid . My father given to me.

For the balance sheet land show in asset side the value differ from liabilities.

11 July 2013 it is inherited property ,not taxable,basically gift

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 July 2013 Thank u .,
it should be shown in Balance sheet or no need .

11 July 2013 it shall be shown in the balance sheet & increase in capital simultaneously.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details