Fixed assets
This query is : Resolved
02 June 2012
If the organisation has given 10000 to employee to purchase mobile phone.employee also incurred 10000 of his own and purchased a mobile phone for Rs.20000 so how much should be capitalised as a fixed asset.employee will returned mobile phone back to organisation....
02 June 2012
Rs 10,000/-
02 June 2012
In my opinion, company has to capitalise the amount upto which it is liable to pay either the value of Invoice it receive is more than its actual liability. The capitalisation is to be made by special mention on voucher all the details and then capitalisation upto Rs. 10000/- is viable.
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
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- 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
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
