Fixed assets
This query is : Resolved
vijayalakshmi
(Querist)
20 September 2013
If a Fixed Assets is purchased in the Director name not in the company how to account it ? how to treat that Asset?
CA Parul Saxena
(Expert)
20 September 2013
If it is for the office use then record it as fixed asset otherwise can not be recorded.
Guest
Guest
(Expert)
20 September 2013
ideally it should be treated as an asset of director in their personal balance sheet
Ganeshbabu K
(Expert)
20 September 2013
Depreciation not allowed under income tax act if the asset is in the name of director
vijayalakshmi
(Querist)
27 September 2013
thanks for the clarification.
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- GST on reimbursement of expenses
- Query on effect of registration of property
- Whether output tax is taken credit by purchaser
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- 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
