banner_ad

Government accounting

This query is : Resolved 
Profile Image

Profile Image

(Querist)
06 June 2014 Dear,
one government department like forest department received grants for some project, out of which they purchased some assets like vehicle. my question is that can depreciation be calculated on such? if yes then please provide rate. and please suggest any accounting standard for the accounting of such grant received by government department.
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
06 June 2014 u need to follow as 13 and there is option wheteher to deuct the amount from fixed assets or can take it as deffered income refer as 13
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
07 June 2014 AS-12 for grant, AS-13 for investment and AS -10 for fixed assets.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details