Stamp Duty
This query is : Resolved
02 April 2009
I want to ask that we are prop. concern we have purchase plot costing Rs. 12,55,000 /- and besides that we have paid 80000 /- for stamp duty can we add stamp duty in the in the value of plot and we also want to show these expenses in my Indirect Expenses so can i. Please sought out my problem and tell me the journal entry of the above said
Thanks in advance.
Thanks in advance.
02 April 2009
The stamp duty you paid will be added to the cost of the land. Stamp duty is a capital expenditure and you cannot claim it as revenue expenditure.
The stamp duty you paid will be added to the cost of the land. Stamp duty is a capital expenditure and you cannot claim it as revenue expenditure.
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