Fixed assets

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raghavendra kamat

raghavendra kamat (Querist)
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27 July 2012 Water tank..under wchich of head it should be shown in Fixed asstes??

CA Mahesh Vekariya

CA Mahesh Vekariya (Expert)
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27 July 2012 Dear Kamat

It is depends upon the case..

Like if water tank is constructed with help of cement and concrete than it is a part of building and if it made from plastic (Sintex)and company purchase is to store the water than you can show it under fixed asset head.

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