Transfer of property

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ikramuddin (Querist)
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16 April 2012 Dear Sir,
I am working in a small co., my company owner transfer his company property in his son name & its transfer exps. was 405000/- (Stamp Paper Rs.390000 +10500 Receipt), but im confuse how i enter these amounts in co. books ? kindly suggest me.
Thankin You

Durgesh Laddha

Durgesh Laddha (Expert)
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16 April 2012 In this case, Company is seller, so you need not to book exp. because purchaser bear exp. like stamp duty, registration charges etc.

but exp. given by co. then you should debit to purchaser of land