Hello,
Car invoice was raised in the company name on 31/03/2009.
The car was registered with RTO in the company name on 10/4/2009.
Query:
Can the company claim Half yearly depreciation on the car in the Fin. Yr. 2008-2009?
90% revenue recd on completion of contract & 10% will be recd after 1 year or after furnishing bank guarantee, Whether revenue recognised 100% or 90% on issue of invoice & bal 10% after recipt of payment
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Depreciation on Car from invoice date or registration date