Land purchase for it
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2013
I bought land of Rs.12,50,000 ( Govt. Value )
the date of 26.02.2013. for Income tax filling for the Asst.year 2013-14. The land purchase how to treat.
Note : This land purchase (Transfer) to My Father property. No money paid . My father given to me.
For the balance sheet land show in asset side the value differ from liabilities.
the date of 26.02.2013. for Income tax filling for the Asst.year 2013-14. The land purchase how to treat.
Note : This land purchase (Transfer) to My Father property. No money paid . My father given to me.
For the balance sheet land show in asset side the value differ from liabilities.
11 July 2013
it is inherited property ,not taxable,basically gift
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2013
Thank u .,
it should be shown in Balance sheet or no need .
it should be shown in Balance sheet or no need .
11 July 2013
it shall be shown in the balance sheet & increase in capital simultaneously.
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