Stamp duty and registration fees of property
This query is : Resolved
Gourav dewangan
(Querist)
06 October 2021
Suppose I am a property dealer. I purchased a property amounting to Rs 1000000 and stamp duty of Rs 200000 and registration fees of Rs 100000 are also paid by me. What is the accounting treatment in this. Weather Purchase account debited to Rs 1300000 or purchase account debited to Rs 1000000 and direct expenses debited to Rs 300000.
CA R SEETHARAMAN
(Expert)
06 October 2021
Purchase account debited to Rs 1300000.
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