Reg agri land
This query is : Resolved
06 February 2016
if i have registered agriculture land which i purchased (not inheritance) few years back and not shown in my balance sheet.. now how to show in balance sheet?? any objections from IT Dept???.
06 February 2016
Show the agricultural land purchased under the head Investment assets or Fixed Assets (not as stock-in-trade under Current Assets) with the purchase amount and expenses incurred for purchase of the land such as registration expenses, stamp duty etc. (i.e. historic cost). This fulfils the asset side of the balance sheet.
On the liabilities side of the balance sheet, increase capital amount to the extent of the amount shown for that asset in the assets side of B/s.
On the liabilities side of the balance sheet, increase capital amount to the extent of the amount shown for that asset in the assets side of B/s.
06 February 2016
If source of payment is legitimate then i don't think any problem may arise.
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
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- 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)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
