Sale of Building - profit

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This discussion concerns the sale of a building where the selling price (£2,500,000) significantly exceeded its cost value (£1,430,000). The user is seeking advice on whether they can directly book the profit from this difference or if they should first credit their capital account with the gain.

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(Querist)
04 August 2025 Hi, individual who sold his building for 2,50,00000 but it's cost value 1,43,00000 can I book the profit for the difference amount or credit capital account
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
04 August 2025 Book profit (rather Gain) first.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
24 September 2025 Good Luck...
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