Capitalizing asset with discount
This query is : Resolved
24 October 2015
If co.has purchased a trailer from Ashok Leyland dealer for Rs.100 and paid the same to Ashok Leyland , but the dealer on his disposal but cutting off his own margin pay co. Rs. 10 back as discount .Please tell me what should be as asset amount and how to account that Rs.10 received from dealer . ??
24 October 2015
yes it should be of rs 90.............
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- TDS on property - Form 141 query
- Type of Capital Gain
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- Loss of interest in PF transfer from EPFO to Trust
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Residential status of non resident
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
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
