Taxation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2012 Dear Sir,
I am asking that if any private limited company purchase land approx two crore and company have no cash and directors have also no amount that pay loan to company.Then what is procedure that he show land in balance sheet if return of company already filed. Please urgently reply to me.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 May 2012 From where did the company purchase the land? What was the source of the funds?

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2012 Land purchase in delhi.Land purchase through cash but in balance sheet have no cash and if loan provide directors for company,directors have also no funds in balance sheet.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 May 2012 From where did the company get cash? You will have to disclose the source of the cash.

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