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Advanced recived

05 August 2023

sir hamare ek clint ne agriculture land sale kiya hai rs 3 crore me . buyer se inhone 50 lakh advance liya hai f/ y 22/23 me kya hum is advance ko capital me add kare ya liabilities me advance recived dikhaye please batayiye. a land sale ka baki ka amount aane me 2 saal aur lagenge .a sale deal cancel bhi nahi hogi

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177721 Points)
Replied 05 August 2023

Registry kab kiye?

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 05 August 2023

It's an advance received against sale of land is to be shown in liabilities side over advances

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alim dada (133 Points)
Replied 05 August 2023

Regestry nahi huwi hai sir sirf ek agreement huwa hai jaise hi pura amount miljayega tab register hoga sir

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177721 Points)
Replied 05 August 2023

Toh possession dene ka sawal hi nahi uthta.

Isse bayana hi samjo. Jab tak registry nahi hoti isse capital me jama nahi kar sakte.

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sabyasachi mukherjee (27574 Points)
Replied 05 August 2023

Capital asset cr.
Advance for land Dr.
Assume this is a real estate developer hence so in his books once the project is established . The project is launched then this advance gets credited and transferred to the project. I hope Sourav understands.The land standing in the land estate developer books is an asset.

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alim dada (133 Points)
Replied 05 August 2023

Thank u all