Easy Office

library books

This query is : Open 
Profile Image

Profile Image

(Querist)
09 June 2016 can any one tell me what should be the accounting treatment of Library book. in educational institutions books of accounts
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
09 June 2016 it is show under fixed assets, but under income tax you can claim deprecation 100%.
Profile Image

Bharat

Profile Image

Bharat (Querist)
09 June 2016 i think its not be a fixed assets as per AS10.



Profile Image

CA Amrita Chattopadhyay

Profile Image

CA Amrita Chattopadhyay (Expert)
10 June 2016 The books can be shown as the consumables for the educational institution. The definition of fixed assets as per AS 10 it should be used for the purpose of business or rendering of services
Profile Image

Bharat

Profile Image

Bharat (Querist)
10 June 2016 okk thanks

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links