Capitalization or purchase or expenses
This query is : Resolved
VIPIN KUMAR SENGAR
(Querist)
30 October 2013
Basically, our company earned commission income on sale of goods.
Now, our company want to sell honey. So, they purchase Bee Hives with live bees.
I want to know live bees is capitalized item or purchase or expenses?
Please solved my query?
Now, our company want to sell honey. So, they purchase Bee Hives with live bees.
I want to know live bees is capitalized item or purchase or expenses?
Please solved my query?
Ganeshbabu K
(Expert)
30 October 2013
it is purchases
.
.
because you want to sale honey
.
.
because you want to sale honey
VIPIN KUMAR SENGAR
(Querist)
30 October 2013
but we are not purchasing honey. we are purchasing live bees and bees produce honey.
Ganeshbabu K
(Expert)
30 October 2013
yes you purchase live bees,,and then u maintain and some expences incurred
..
.and honey you sold
.
.
in my opinion it is purchase only you cannot capitalize
..
.and honey you sold
.
.
in my opinion it is purchase only you cannot capitalize
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
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
