Joint house property at balance sheet
srikumar (audit staff) (1203 Points)
29 June 2022srikumar (audit staff) (1203 Points)
29 June 2022
CA Raj Doshi
(Practising CA)
(8908 Points)
Replied 29 June 2022
CA Puja Sharma
(Chartered Accountant)
(4984 Points)
Replied 29 June 2022
You will show the value of the property for which consideration has been paid by the respective person.
For eg. If both the parties have contributed 10 LAcs each for the Rs. 20 Lacs property then you will mention - " 50% share in ____ property - Rs. 10 Lacs" in the balance sheet.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)