help
This query is : Resolved
08 October 2010
Dear Friends & all experts
I want to know one question.
1. Can the credit note on a/c of discount recieved on purchase of car be treated as income of pvt ltd co?
2. What will be the entry in the books if the car is purchased on loan for value of 10L and a crdit note of Rs3L recieved.
It is urgent.
thanks
regards
sanjay
I want to know one question.
1. Can the credit note on a/c of discount recieved on purchase of car be treated as income of pvt ltd co?
2. What will be the entry in the books if the car is purchased on loan for value of 10L and a crdit note of Rs3L recieved.
It is urgent.
thanks
regards
sanjay
CMA Ramesh Krishnan
(Expert)
08 October 2010
It is need to be adjusted with the cost of car. it is not income
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