Accounting of computer accessories
This query is : Resolved
24 October 2015
Hi,
One of my clients accounted purchase of RAM, graphic card, mouse etc under the head purchase accounts instead of accounting under fixed assets or computer maintance. They also filed VAT for the same thinking those come under purchase account. Now how to rectify it? especially from tax perspective
CA AnKiT BoHrA (AB)
(Expert)
25 October 2015
These won't come under fixed assets..these will b expense
27 October 2015
Yes sir. But they accounted it under the head purchase accounts and also filed VAT on it. How to rectify it ? file revised return?
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