Sale of Land
This query is : Open
12 October 2020
Good Afternoon All,
We have sold and land for 8.75 , 1.25 less than the amount booked and received in cash.
How to book the transaction .
Shld we show loss on sale of land or how.
We have sold and land for 8.75 , 1.25 less than the amount booked and received in cash.
How to book the transaction .
Shld we show loss on sale of land or how.
13 October 2020
Can you re-draft your query..
16 October 2020
The cost price of the land is 8.75 cr and sold withing a year at 7.5 cr in white and 1.25 in cash
17 October 2020
Is land is Agriculture land or non agriculture land ?.......
Purchase Agreement value Rs. 8.75 cr. and sale Agreement value Rs. 7.50 cr. Than it's loss....also required to check Stamp duty value of land. If Stamp duty value is more than agreement value, (above prescribed % ) than you have take Stamp duty value as sale Consideration
Purchase Agreement value Rs. 8.75 cr. and sale Agreement value Rs. 7.50 cr. Than it's loss....also required to check Stamp duty value of land. If Stamp duty value is more than agreement value, (above prescribed % ) than you have take Stamp duty value as sale Consideration
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