accounting treatment
This query is : Resolved
11 December 2009
what will be the accounting treatment of advance forfeited on sale of flat ? whether it is a capital receipt or revenue receipt ?
Pls. provide supporting
Pls. provide supporting
11 December 2009
It is Revenue receipt
11 December 2009
I do agree with Mr Ramesh as the receipt is not the proceeding of Sale Transaction. There is no SALE taken place .
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