tally entry
This query is : Resolved
shubham agrawal
(Querist)
31 August 2016
dear sir,
please do suggest me tally entry for cap. gain
sir i have sold a land in last f.y. and invested cap gain amt to nhai bond after calculating index value so how to record increase in assest value in tally
Amol S Joglekar
(Expert)
01 September 2016
assset is sold. ..isnt it?
book the profit on sale of asset in tally
book the profit on sale of asset in tally
shubham agrawal
(Querist)
01 September 2016
yes asset is sold
Amol S Joglekar
(Expert)
01 September 2016
so, book the profit on sale of asset.
shubham agrawal
(Querist)
01 September 2016
but sir who i will show increase in value of land which i have calculated through indexation
Amol S Joglekar
(Expert)
01 September 2016
no need to account for the same in tally. It is required only for income tax computation purposes...not for ACCOUNTS
shubham agrawal
(Querist)
01 September 2016
sir i have to maintain a/c because in my case tax every year audit is applicanle
Amol S Joglekar
(Expert)
01 September 2016
that is what i am trying to tell you......
so far as accountancy is concerned....book the profit on sale of asset.
while filing income tax return.....calculate the capital gain as per indexation.....
No need to show indexation in accounts....ok?
so far as accountancy is concerned....book the profit on sale of asset.
while filing income tax return.....calculate the capital gain as per indexation.....
No need to show indexation in accounts....ok?
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