Sale of Land

This query is : Open

Smrity (Querist)
Follow

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.

Sagar Patel

Sagar Patel (Expert)
Follow

13 October 2020 Can you re-draft your query..

Smrity

Smrity (Querist)
Follow

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

Sagar Patel

Sagar Patel (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Sharang Sanjay Mangalekar

saurabh sawlani

deepak

J.Vijai

Vivekanand Sagar

Subscribe Now

Sale of Land

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA