As per sec 43CA,
if any land held as business stock in trade sold for 70 lakhs and Stamp duty value is 1 crore. Then business receipt will be deemed to be 1 crore.
70 lakhs will be recovered from customer but how 30 lakhs will be dealt in books ?
kindly advise for the same ?
Menu
Section 43CA query
Replies (1)
The profit and loss will be prepared as per actual values but the computation will have the difference added to the profits from business profession as deemed income.
Recent Threads
- Query of GST
- Long Term Capitalgains on sale of residential prop
- How Salaried Individuals Can Reduce Capital Gains
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
- TDS - requirement of TDS by individual under presu
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
Related Threads
CAclubindia
