Adv given against property & its presentation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2012
when amt is given in adv as a token without execution of MOU Deed or agreement in writing in purchase of purchase of land & building ,how to show in balance shet?
01 April 2012
Pl. note any payment of advance towards purchase of immovable property shall be supported with proper receipt.
It shall be shown as Advance given for purchase of land on assets side under the head Deposits and Advances.
It shall be shown as Advance given for purchase of land on assets side under the head Deposits and Advances.
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