Jewellery

This query is : Resolved

Querist : Anonymous

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.

CS,CA F,Numrologi TusharSampat

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

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2014 Please confirm may I show the same as a Fixed Assests?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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.

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2014 thanx a lot Sir.......

CS,CA F,Numrologi TusharSampat

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

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