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(Querist)
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
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CMA Ramesh Krishnan

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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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