Value of land for accounting purpose
This query is : Resolved
24 December 2016
hello, experts!
my question is
I bought an agriculture land suppose for rs 700000 but till next year I pay only rs 500000.
than what will be value of such land in the balance sheet?
my question is
I bought an agriculture land suppose for rs 700000 but till next year I pay only rs 500000.
than what will be value of such land in the balance sheet?
24 December 2016
Land value will be 7 lacs in the balance sheet. Show the payable amount under liabilities.
24 December 2016
WELL,
i purchase that land from goverment.
then which account i should mention in liability side?
i purchase that land from goverment.
then which account i should mention in liability side?
24 December 2016
Mention the respective Govt.
24 December 2016
I presume that you have just paid some instalments to the government towards purchase of land. If it is so, then you have to show the amount as ADVANCE FOR LAND Rs.5,00,000.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Error in uploading Form 10BD
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Grand in aid
- Loss of interest in PF transfer from EPFO to Trust
- NRI INSURANCE ADVISOR
- Banking Related Issue
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
