Accounting treatment for slump sale
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2014
what will be accounting treatment of recovery of deposits in the name of seller company in case of slump sale.
The business is already sold where such deposits were written off earlier but selling company now recovered such deposits in their name.what would be the treatment for the purpose of accounts in this case??
The business is already sold where such deposits were written off earlier but selling company now recovered such deposits in their name.what would be the treatment for the purpose of accounts in this case??
25 April 2014
According to me, it is capital receipts belonging to slump sale and should be chargeable as per capital gain rules.
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2014
Hi..thanks for your reply.
I have a doubt that how such deposits recovered after slump sale in the name of the transferor shall be accounted in the books of transferor which was already treated bad debts before slump sale.kindly share the accounting entries
I have a doubt that how such deposits recovered after slump sale in the name of the transferor shall be accounted in the books of transferor which was already treated bad debts before slump sale.kindly share the accounting entries
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
