Suppose building sold by A to B for 60 lacs

B deducted 1% deducted and paid 5940000

Cost of Property in books of B was 8 lacs

Pass entries in books of B

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Pass entries in books of A

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.