Capitalisation of assets
This query is : Open
Amit Kumar Jha
(Querist)
13 February 2013
Company purchase a assets in the name of director but payment had been made through company bank account
In that situation weather can capitalised asset in Company books of account and any dis closer is required for that
what should be done in that situation
In that situation weather can capitalised asset in Company books of account and any dis closer is required for that
what should be done in that situation
CA PARAS BAFNA
(Expert)
13 February 2013
It depends upon the nature of the asset. In case of a Car in the name of Director, case law , has been decided in favour of the assessee. But some times the Registration Charges payment is far better that the litigation cost and time. So, it has to be set right.
.
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Amit Kumar Jha
(Querist)
16 February 2013
But one of our client purchase a Land in the name of director
Company may capitalised land in his books of accounts without any agreement between company and director ?
Company may capitalised land in his books of accounts without any agreement between company and director ?
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