Upward revaluation of land in books of accounts
This query is : Resolved
CA Anand Kankariya
(Querist)
13 August 2010
Sir,
I have a land in my books at Rs. 2 lacs since
the year 2000.
It has a market value of Rs. 30 lacs as on date.
For the purpose of bank loan i wish to show my balance sheet as strong as possible.
for that purpose i want to show the land at current market price in my Balance sheet
How shall i do it and will there be any tax implications of the same?
I have a land in my books at Rs. 2 lacs since
the year 2000.
It has a market value of Rs. 30 lacs as on date.
For the purpose of bank loan i wish to show my balance sheet as strong as possible.
for that purpose i want to show the land at current market price in my Balance sheet
How shall i do it and will there be any tax implications of the same?
13 August 2010
Is this a proprietary concern?Then you may please follow the discussion at https://www.caclubindia.com/forum/revaluation-of-fixed-asset-for-propritorship-concern-55681.asp
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