DEFINITION OF FIXED ASSET
This query is : Resolved
03 June 2010
sir, please solve my problem:
WHAT IS THE DEFINITION OF FIXED ASSET AS PER COMPANIES ACT 1956?
WHETHER IT INCLUDES VEHICAL COMPUTER WHICH IS ACTUALLY NOT FIXED BUT MOVING?
IF NOT, THEN AT WHAT PLACE WE HAVE TO SPECIFY SUCH ASSET IN BALANCE SHEET?
IF YES, THAN WHY THE HEADING OF THE ASSET IS FIXED ASSET ?
WHAT IS THE DEFINITION OF FIXED ASSET AS PER COMPANIES ACT 1956?
WHETHER IT INCLUDES VEHICAL COMPUTER WHICH IS ACTUALLY NOT FIXED BUT MOVING?
IF NOT, THEN AT WHAT PLACE WE HAVE TO SPECIFY SUCH ASSET IN BALANCE SHEET?
IF YES, THAN WHY THE HEADING OF THE ASSET IS FIXED ASSET ?
05 June 2010
As per schedule VI, vehicles, computers etc have to be included in FA.
Assets that are not included in the FA are the assets which are current assets like stocks, FG, debtors, cash and bank balances.
Assets that are not included in the FA are the assets which are current assets like stocks, FG, debtors, cash and bank balances.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- LIABILITY ADJUSTMENT
- IT returns for fresh job holders
- Housing Society-ITR5
- NRI INSURANCE ADVISOR
- 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
