Capital work in progress
This query is : Resolved
17 March 2009
Thanks for reply
This project going to be a sep. legal entity in that case same rules apply?
We have started one project and all expenses related to that project am debiting capital WIP.Now we have purchased a vehicle exclusively using this project. I have doubt whether i accounted as fixed assets or as capital WIP
Kindly clarify the doubt
Thanks in Advance
Jagadish
This project going to be a sep. legal entity in that case same rules apply?
We have started one project and all expenses related to that project am debiting capital WIP.Now we have purchased a vehicle exclusively using this project. I have doubt whether i accounted as fixed assets or as capital WIP
Kindly clarify the doubt
Thanks in Advance
Jagadish
17 March 2009
Dear Jagadish,
It has to be considered as Fixed Asset.
and not as capital work in progress. As the asset purchased is ready to use. The same u can add to the Project if at later stage vehicle is going to be used exclusively for project after comletion of the same.
It has to be considered as Fixed Asset.
and not as capital work in progress. As the asset purchased is ready to use. The same u can add to the Project if at later stage vehicle is going to be used exclusively for project after comletion of the same.
18 March 2009
i agree with the expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- GST Reverse
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- Subscription paid to foreign customer
- PRESUMTIVE TAXATION SCHEME
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
