Accounting problem with registery of agricultural land
SHIV RATTAN YADAV
(Querist) 29 March 2011
This query is : Resolved
Hi Experts,
The problem is regarding a sale of land where in the buying party has not made any payment instead the broker made the self arrangement of fund and paid to the selling party and the same has been recorded in Agreement as well( that a certain sum of money has been received by the selling party on a specific date)the amount was 5 lakh.
Now the problem is this that the buying party is unable to understand as how to show the same in its books.As they had not withdrawn from bank any amount approximate to the paid amount please help.Even the registry is done in the name of buying party.
R.Ramachandran
(Expert) 30 March 2011
Dear Mr. Shiv Rattan,
Whom do you represent - the selling party or the buying party?
If you represent selling party, have you got the complete consideration for the sale (i.e. advance + balance amount) registration or not?
bhagwat patil
(Expert) 30 March 2011
what is written in consideration clause?if it like 'The total consideration is paid on or before time to time' you can show the amount.or otherwise you can reimburse to agent for the consideration which he had already paid.
