Purchased of shop
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 September 2013
Respected Sir,
One of my client purchased a shop at Virar, the amount is paid through account payee cheques and agreement is made just on Rs.100/- stamp paper, but the registration and stamp duty cannot be done as according to me the amount has been paid just for the construction of structure and not for the land as in the future may be the person whose name is registered with the land can demolished the property and our investment value become zero. Kindly advice me about the treatment i can do and under which head of balance sheet should i can take.
Thanking You
One of my client purchased a shop at Virar, the amount is paid through account payee cheques and agreement is made just on Rs.100/- stamp paper, but the registration and stamp duty cannot be done as according to me the amount has been paid just for the construction of structure and not for the land as in the future may be the person whose name is registered with the land can demolished the property and our investment value become zero. Kindly advice me about the treatment i can do and under which head of balance sheet should i can take.
Thanking You
02 September 2013
it will disclose under fixed assets under capital work in progress in new bal sheet format.
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 September 2013
Dear Sir,
This is to inform you that the shop at Virar which i discussed above is located on the ground floor in a four storey building and my client already got the possession. The shop is given on rent, then how can we take in capital work in process, please advice me.
Thanking you.
This is to inform you that the shop at Virar which i discussed above is located on the ground floor in a four storey building and my client already got the possession. The shop is given on rent, then how can we take in capital work in process, please advice me.
Thanking you.
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