FIXED ASSETS OR CWIP
This query is : Resolved
13 November 2008
DEAR EXPERTS
WE ARE CONSTRUCTION HOUSE WE HAVE PURCHASED A DG SETS OF SITE OFFICE FOR RUNNING OUR SITE OFFICE OPERATION WHEATHER WE HAVE TO TAKES ITS AS FIXED ASSETS OR ITS PART OF CWIP. PLEASE GUIDE ME WITH SOME LITTLE EXPLANATION.
THANKS
RAVINDER
WE ARE CONSTRUCTION HOUSE WE HAVE PURCHASED A DG SETS OF SITE OFFICE FOR RUNNING OUR SITE OFFICE OPERATION WHEATHER WE HAVE TO TAKES ITS AS FIXED ASSETS OR ITS PART OF CWIP. PLEASE GUIDE ME WITH SOME LITTLE EXPLANATION.
THANKS
RAVINDER
13 November 2008
If it is attached to site office fixed assets.
13 November 2008
Since it is used for Site Office, it is Fixed Assets
17 November 2008
FIXED ASSETS are those assets of a permanent nature required for the normal conduct of a
business, and which will not normally be converted into cash during the ensuring fiscal period.
For example, furniture, fixtures, land, and buildings are all fixed assets. However, accounts
receivable and inventory are not. Sometimes called PLANT.
Hence yours is FA.
business, and which will not normally be converted into cash during the ensuring fiscal period.
For example, furniture, fixtures, land, and buildings are all fixed assets. However, accounts
receivable and inventory are not. Sometimes called PLANT.
Hence yours is FA.
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
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Banking Related Issue
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- 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
- 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
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
