AS - 13 (need clarification)

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CA Sourabh Agarwal (Querist)
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09 September 2010 As per definition given

Invt. are assets held by an enterprise for earning income by way of dividends, interest, ""and rentals"", for capital appreciation................

My ques. is whether asset held and given on rent and on which depreciation is also claimed can be taken as Invt. or Fixed asset.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 September 2010 If depreciation claimed then it would be fixed asset.

CA Sourabh Agarwal

CA Sourabh Agarwal (Querist)
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09 September 2010 but then what's the status of words "and rentals" includes....

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 September 2010 Then dont charge depreciation to it and it can be held as investment also.

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AS - 13 (need clarification)

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