DEAR SIR/MADAM,
HOW TO CACULATE PURCHASE VALUE OF LAND & WHAT IS ENTRY?
DETAILS ARE BELOW
Stamp Duty - 13,33,200/-
4) Valuation - Rs.1,90,45,000/-
5) Purchase Amt - DONATE
2 Replies
CA SACHIN
(practice)
(115 Points)
Replied 03 November 2015
It will recorded in books of accounts at actual price paid ie stamp duty paid. Valuation amount is irrelevant for accounting purpose.
Ashpak Ali
(Finance Accounts Manager)
(87 Points)
Replied 04 November 2015
Stamp duty paid on puchase of land will be capitalisd.So the purchase of land cost is Stamp Duty + Valuation of Land
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