2 queries
This query is : Resolved
25 April 2015
1. purchase of window , Ms package & software for the limited company is to be considered as revenue expenses or capital expense?
2. why duty drawback on export is considered as indirect income and why it is shown on credit side of profit and loss a/c?
CA R SEETHARAMAN
(Expert)
25 April 2015
1. It has to be capitalized as intangible asset and depreciated over its useful life.
2. Duty paid should have been charged off as expenses/added to value of goods, that is why now the receipt is shown on credit side of P&L a/c.
2. Duty paid should have been charged off as expenses/added to value of goods, that is why now the receipt is shown on credit side of P&L a/c.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- GST on Renting godown to KFCSC for Storage of Raagi
- Import of Software Service.
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
