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Recognition of land value

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2010 What are the documents to be verified for the amount shown as land in the Balance Sheet?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
31 December 2010 REgistered purchase agreement and description of land known as saat barra.
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sanjay

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sanjay (Expert)
31 December 2010 1. TITLE DEED TO BE IN THE NAME OF THE ORGANISATION.
2. REVENUE RECORDS (PATWARI RECORDS ,I.E. MUTATION IN CASE OF AGRICUTURAL LAND) OR IN CASE OF SOME DEVELOPMENT AUTHORITY OF STATE GOVERNMENT OR CENTRAL GOVERNMENT, NAME OF ORGANISATION SHOULD HAVE BEEN REGISTERED AS OWNER OF PROPERTY.
3. FOR VALUE PART PRICE DECLARED IN SALE DEED + STAMP DUTY + ANY COMMISSION PAID + ANY EXPENSES ON DEVELOPMENT OF THAT LAND.
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