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Household goods

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(Querist)
28 January 2013 dear sir
where i shown the vale of household goods
of Rs 42500 in balance sheet as fixed assets or current assets? in fixed assets
schedule there gross block less: depriciation = net block but here house hold goods is not used for the business so not get depriciation, please advice me thanks,
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
28 January 2013 In Gross Block of Business add 42500/- also . It is not necessary that on each item of Gross Block Depreciation is required to be charged. In the Depreciation Schedule Mention only those on which Dep. has been charged for matching the Dep. figure.
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This is applicable for your commission agent clients.
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