Fixed Assets
This query is : Resolved
kavita Rathi
(Querist)
17 June 2009
Respected Sir/Madam,
My Query is as follows
There was fire in my office premises.
In That we lost PC Screen and some part of furniture.
Now we have done some furniture work so that we can continue with the work.
Furniture work is just for replacment of damages.
I Want to know is there any Guidence note for the accounting treatment of the above
or How it should be treated in accounts is it to be capitalised or Repair.
My Query is as follows
There was fire in my office premises.
In That we lost PC Screen and some part of furniture.
Now we have done some furniture work so that we can continue with the work.
Furniture work is just for replacment of damages.
I Want to know is there any Guidence note for the accounting treatment of the above
or How it should be treated in accounts is it to be capitalised or Repair.
Manmohan ACA, CS
(Expert)
17 June 2009
So far it confers replacement and does not increase the value or utility of the the furniture, it is revenue
17 June 2009
its a revenue expediture
kavita Rathi
(Querist)
18 June 2009
Thank you.
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 credit note by supplier
- GST on reimbursement of expenses
- Movement of goods by packers and movers - type of sale - Reg.
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Wrong CMPo8 file
- Gratuity paid to legal heir above 20 lakh is taxable or not
- 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
- ITC not to be taken in accounts & GSTR-3B
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
