Upward revaluation of land in books of accounts
This query is : Resolved
13 August 2010
Sir,
I have a land in my books at Rs. 2 lacs since
the year 2000.
It has a market value of Rs. 30 lacs as on date.
For the purpose of bank loan i wish to show my balance sheet as strong as possible.
for that purpose i want to show the land at current market price in my Balance sheet
How shall i do it and will there be any tax implications of the same?
I have a land in my books at Rs. 2 lacs since
the year 2000.
It has a market value of Rs. 30 lacs as on date.
For the purpose of bank loan i wish to show my balance sheet as strong as possible.
for that purpose i want to show the land at current market price in my Balance sheet
How shall i do it and will there be any tax implications of the same?
13 August 2010
Is this a proprietary concern?Then you may please follow the discussion at https://www.caclubindia.com/forum/revaluation-of-fixed-asset-for-propritorship-concern-55681.asp
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- 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
Trending Online Classes
CAclubindia
