Regarding Assets and liabilities schedule of ITR
This query is : Resolved
07 July 2023
Respected Sir/Madam
if any urban agriculture land acquired by Govt and thereafter in place of acquired land, alloted residential and commercial properties as per letter of intent (LOI) without monetary compensation, then in this case whether cost of property currently owned by assessee is considered @ which has mentioned on LOI by Govt?? we considered cost of property in Assets and Liab. Schedule of ITR
Plz provide your valuable feedback........
if any urban agriculture land acquired by Govt and thereafter in place of acquired land, alloted residential and commercial properties as per letter of intent (LOI) without monetary compensation, then in this case whether cost of property currently owned by assessee is considered @ which has mentioned on LOI by Govt?? we considered cost of property in Assets and Liab. Schedule of ITR
Plz provide your valuable feedback........
07 July 2023
Yes, the cost would be as per LOI issued by government.
07 July 2023
Ok Thanku Sir...............
08 July 2023
You are welcome.
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