Accounting treatment for purchase on installment basis

Roopesh Gangisetty (Article trainee) (176 Points)

22 September 2014  

Dear All,

 

One of my Client purchased CAR on Installment basis, for where 3 Installments were made in Current year. 

Now How shall I have to disclose in Accounts and Can I claim Depreciation. Can I claim IT Depreciation?/

 

Please let me know your response.