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What is entry of Home (urgent)

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76 Points Posted on 29 March 2021
agar me ghar purchase karta hu to government ki stamp duty kese enter hoti hai or uski fully entry kya hogi home ki?????
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On 29 March 2021 at 02:47 Report
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student
24 Points Posted on 29 March 2021
No entry should be passed in the books of account, because it is for our residential purpose , but if the same property you are using for the business as a office then you can shown as an asset in the books.
if i am not correct let me hear from other side.

and the discussion to be continued Further
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On 29 March 2021 at 04:51
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Tax & Finance Consultant
10533 Points Posted on 29 March 2021
Stamp duty and registration expense are part of house property so it will in same name as house property.
HP Dr
To Loan
To Bank
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On 29 March 2021 at 08:47
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63 Points Posted on 29 March 2021
Stamp duty is the expenses while purchasing the home therefore it shown as expenses
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On 29 March 2021 at 10:01
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Tax & Finance Consultant
10533 Points Posted on 29 March 2021

stamp duty and registration fees are not business expenses so not to give effect in P&L it should be capitalized.

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On 29 March 2021 at 10:16
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17264 Points Posted on 29 March 2021
स्टैंप ड्यूटी घर की कीमत एग्रीमेंट वैल्यू के साथ जुड़ जाएगी।
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On 29 March 2021 at 11:21
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Chartered Accountant
86505 Points Posted on 29 March 2021

Stamp Duty and Registration Charges are capital expenses and must be needed to add in the cost of the house.

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On 29 March 2021 at 12:44


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