Whenever a house property is purchased, we spend for stamp duty , registration fees and brokerage. My question is whether we have to include all these expenses with the cost of property to show in the balance sheet.
Whenever a house property is purchased, we spend for stamp duty , registration fees and brokerage. My question is whether we have to include all these expenses with the cost of property to show in the balance sheet.
Yes of course, with no doubts. All the costs incurred for purchase or construction of a property needs to be added to show the correct value.
The above costs should be shown..
DEAR SIR ,
MY QUESTION IS ADVANCE PAYMENT PAID FOR RENT AGREEMENT REGISTRATION FEES , WHAT IS THE ENTRY IN TALLY
DR ADVANCES
CR. CASH
WHEN THE JOB IS DONE
DR. LEGAL EXPENSE
CR. ADVANCES
SSGS and Associates
Chennai
CA Inter
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R P S K & Associates
Nashik
CA Inter
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