banner_ad

If a company purchase a land along with

267 views 4 replies
User Avatar

1359 Points Joined October 2021
company purchase a land along with property tax pending of 5 yrs so how do you account for it ??
0 Reply Share Follow
On 23 May 2022 at 22:14 Report
Replies (4)
User Avatar

Chartered Accountant
86505 Points Joined April 2011
Add property tax paid in cost of plot.
Reply
On 23 May 2022 at 23:56
User Avatar

Profession Business
28196 Points Joined May 2017
As per icai guidelines all costs incidental with the land is to be capitalized for fixed asset.
Reply
On 24 May 2022 at 13:54
User Avatar

My grammar is 💯 good I
7301 Points Joined March 2019

Dr. Land

Dr. Tax capitalised

Cr. Tax liability

Reply
On 24 May 2022 at 14:29
User Avatar

Profession Business
28196 Points Joined May 2017
The entry is .

fixed assets dr.
input c gst Dr.
input sgst Dr.
sundry creditor cr.

rates and taxes Dr.
Tax liability cr.
tax liability Dr.
cr. Bank
fixed asset Dr.
rates and taxes cr.
Reply
On 24 May 2022 at 15:50

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details