AS 10
This query is : Resolved
13 February 2010
Can any one please help me to solve this?
The company has constructed a boiler for use in its factory. A substantial portion of the overheads has been charged to the cost of the boiler. thus the cost of the self constructed boiler is almost double the market price of a similar boiler. comment.
The company has constructed a boiler for use in its factory. A substantial portion of the overheads has been charged to the cost of the boiler. thus the cost of the self constructed boiler is almost double the market price of a similar boiler. comment.
13 February 2010
If you are asking for Income tax points of view, then I suggest whate ever is extra overhead cost allow is as revenue expenses. For accounting purpose as per AS 10 it does't make any sense.
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