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Value of ancestral land received as gift

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(Querist)
20 September 2023 Sir, how to show the value of ancestral land in Balance sheet received from father
after his death ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 September 2023 Ascertain market value of the land as on 1st April 2001 and add land with the value in the asset side and add equal value in the capital account under liability side.

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