financial accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 January 2011
in accounting.
for providing depreciation ownership is neccesary or not ? What will be if asset taken on lease for 3 months ?
for providing depreciation ownership is neccesary or not ? What will be if asset taken on lease for 3 months ?
19 January 2011
In case of finance lease you record the assets in your books and charge depreciation.
If assests taken on lease for 3 months then it is operating lease and lease rent charged to P & L A/c.
If assests taken on lease for 3 months then it is operating lease and lease rent charged to P & L A/c.
19 January 2011
no ownership is not necessary for depreciation in accounting, say finance lease assets. or interiors of a operating lease building.
3 months will always be operating lease and has to be charged to P&L
3 months will always be operating lease and has to be charged to P&L
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
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- 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
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
