purchase consideration for sale of property

Mr.Naren (CA) (173 Points)

28 January 2014  

Example:

 

We sold  property of land or house at the rate of Rs.1,00,000, but we received 90,000/- in current financial year, rest of 10,000/- we got promisory note for next 6 months validity date next F.Y.

Please tell us how do we treat for purchase consideration FOR CURRENT FINANCIAL YEAR