Extinguishment of Rights

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CA Student
138 Points Posted on 30 August 2023

Sir,

One of my client has received a sum of  ₹35,00,000 towards Extinguishment of Rights and he invests this amount in a new business. What is the journal entry to be passed?

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On 30 August 2023 at 18:06 Report
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This discussion addresses the correct journal entry for a client who received ₹35,00,000 as compensation for the extinguishment of rights in immovable property. The client then invested this sum into a new business. The query seeks clarification on how to account for this transaction, specifically the journal entry required to reflect both the receipt of funds and their subsequent investment.

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Finance
4592 Points Posted on 02 September 2023

Simple!

Rights and options? 

 

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On 02 September 2023 at 20:05
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CA Student
138 Points Posted on 03 September 2023

No sir. Extinguishment of Rights as in immovable property.

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On 03 September 2023 at 16:15
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Profession
28271 Points Posted on 13 September 2023
Extinguishment of rights..
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On 13 September 2023 at 20:30

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