23 June 2018
Is there any accounting treatment of Deemed income offer for taxation u/s 56(2)(vii)(b) and on what amount it will be recorded in books of account either purchase cost or stamp duty value? And wht will be cost of acquisition in case of subsequent sale of that asset i think stamp value if offered for taxation u/s 56(2)(vii)(b).
25 June 2018
It's ok that accounting to be done at purchase cost and cost of acquisition will be stamp duty value at the time of sale but what treatment will we do in books for excess money received on sale of that property i.e stamp duty value(-) purchase cost which is not in books?
CAclubindia
