As per sec 43CA,
if any land held as business stock in trade sold for 70 lakhs and Stamp duty value is 1 crore. Then business receipt will be deemed to be 1 crore.
70 lakhs will be recovered from customer but how 30 lakhs will be dealt in books ?
kindly advise for the same ?
Menu
Section 43CA query
Replies (1)
The profit and loss will be prepared as per actual values but the computation will have the difference added to the profits from business profession as deemed income.
Recent Topic
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
Related Topics
CAclubindia
