Gift of Land to sons

1. Yes, or half of the registration value (as per circle rate)

2. Dr. Land investment" U/h. investment..... Cr. Bank..

Thanks Mr Dhirajlal. 

I am new in Tally. an exmaple would be very much helpful. I do not have the circle rate and registration value. I was a kid when all that stuff happened. All I have is mother's balance sheet which has the value of fixed asset.

It was gifted few years back but handed over charge to sons last year. In the deed which was prepared the value mentioned was Rs.Y per flat. 

Thanks