AS - 13 (need clarification)
This query is : Resolved
CA Sourabh Agarwal
(Querist)
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.
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
(Expert)
09 September 2010
If depreciation claimed then it would be fixed asset.
CA Sourabh Agarwal
(Querist)
09 September 2010
but then what's the status of words "and rentals" includes....
Aditya Maheshwari
(Expert)
09 September 2010
Then dont charge depreciation to it and it can be held as investment also.
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