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Advance for purchase of land

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3 Points Posted on 30 November 2021
how to treat advance paid for purchase of land
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On 30 November 2021 at 08:55 Report
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4 Points Posted on 30 November 2021
Thats just an advance
so normally we have to pass advance receipt entry
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On 30 November 2021 at 09:00
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3 Points Posted on 30 November 2021
When an assesse filing IT under presumptive income how to treat for income tax purpose
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On 30 November 2021 at 09:02
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Profession Business
28207 Points Posted on 30 November 2021
Since property is not yet transferred as a result of the fact it's not an asset. Normal advance entry is passed.
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On 30 November 2021 at 09:51


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