Accounting entry for immovable property received as gift

khan mohd sadique (Article) (21 Points)

19 September 2017  

Hii All,

I am the Partner of one LLP Firm. The firm received a immovable property during the year from one Pvt. Ltd Company, Now i want to record this asset in my books of account, Please advise me how to do the same.

Further i have also paid the Stamp duty and registration fee for the above mentioned property, Please advise me how to record the same.