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Land & buiding

This query is : Resolved 
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(Querist)
14 May 2012 in a proprietorship firm, we can be shop as fixed assets if the property in the of owner
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CA. RICHI SAXENA

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CA. RICHI SAXENA (Expert)
14 May 2012 I hoe you want to deal in land and building and as far as this is concerned you can deal in any such fixed asset.

CA.Richi Saxena
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rajender singh

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rajender singh (Querist)
14 May 2012 ACTUALLY WE ARE TRADER OF FABRIC WE BOUGHT PROPERTY IN THE OWNER NOW WE CAN CAPITALISE IN THE B/SHEET
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Guest

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Guest (Expert)
14 May 2012 Yes it shall be capitalize in the B Sheet, as it is to be used for business purpose and to claim depreciation.
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CA. RICHI SAXENA

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CA. RICHI SAXENA (Expert)
14 May 2012 Yes you can capitalise this asset and can claim depreciation on it.
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