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agricultural land

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(Querist)
24 June 2016 hi guys recently I have received a agricultural land from my father as a gift. my query is what will be value of such land for Balance sheet purpose. ?
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Rupesh Jain

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Rupesh Jain (Expert)
27 June 2016 there is no value its recd as gift w/o any payment. for books of a.c you can show at Rs. 1 for accounting purpose

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