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Fixed Assets

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(Querist)
17 July 2009 Whether fixed assets received free of cost can be capitalised at nominal value or zero value ?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
17 July 2009
Book at full value and credit the same to capital reserve.

It will reflect a realistic picture.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
17 July 2009 They are to be recorded at nominal value such as Rs.100/-.
This is a generally accepted accounting practice.



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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
18 July 2009 Yes, these are to be booked at a notional value.

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