A car is purchased for a X amount for a staff which is used for a period of 6 months and sold after six months for the same price as the resale value is good. Could anyone provide me with the solution to how to account it without treating it as a capital expenditure as it is used for only six months.
Menu
Treatment of car less than a year
Replies (1)
Even though it was purchased for a period less than six months, it would be in the nature of a capital expenditure.
Recent Threads
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
- Turf Club Veterinary Department. Procurement Manua
- I have wrongly shown itc in reclaimable itc inste
Related Threads
CAclubindia
