Is rented building is our fixed assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 November 2012
Dear Expert
Plz clearify that I have income from rent of property only while preparing final accounts i have include that rented building in fixed assets in balance sheet.
Wheather its right or not
or rented property should not be include in Fixed Assets
please clear it in reference to Act
Plz clearify that I have income from rent of property only while preparing final accounts i have include that rented building in fixed assets in balance sheet.
Wheather its right or not
or rented property should not be include in Fixed Assets
please clear it in reference to Act
CA PARAS BAFNA
(Expert)
02 December 2012
You have done it correctly. The nature of asset does not get changed by letting it out. Fixed asset remains as such until you convert the same into stock in trade or otherwise.
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
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- GSTR9 Annual Return
- Rent agreement of House of deceased person
- ARCA LOGIN
- Form 144 TDS Return Validation error
- TDS Return Statement Status
- Upload Level ValidationITR3Category of Defect B/D
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- MSME Payment Sec.43B (h)
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
