Plot purchase

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2014 EXPERTS,
I HAVE 1 QUERY,
PLOT PURCHASE BY BUILDERS IS SHOWN AS PURCHASES OR CURRENT ASSETS.??

THANKS IN ADV

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 January 2014 depends on the reason for purchase...for it to reflect as current asset, there should be intention to liquidate vide sale within next one year...however, if the intention is to construct on that plot, no way you can include in current assets..

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2014 ITS FOR CONSTRUCTION ON THAT PLOT SO SHOULD I SHOWN AS PURCHASER OR NOT

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 January 2014 then yes its a purchase...

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