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Jewellery

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2014 Is there any depreciation will be charge on Jewellery item as the same showing as a Fixed Assets in Balance Sheet or what will be the accounting treatment for the same.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
14 February 2014 no dep can be claimed on jwellery.
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2014 Please confirm may I show the same as a Fixed Assests?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
14 February 2014 it must be shown as investment rather then fix asset as no income is generated from it unless u sell it so its basically and technically an investment so clasify it that way ...i confirmed it.
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2014 thanx a lot Sir.......
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
14 February 2014 you are welcome friend....
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