library books
This query is : Open
09 June 2016
can any one tell me what should be the accounting treatment of Library book.
in educational institutions books of accounts
Rupesh Jain
(Expert)
09 June 2016
it is show under fixed assets, but under income tax you can claim deprecation 100%.
10 June 2016
The books can be shown as the consumables for the educational institution. The definition of fixed assets as per AS 10 it should be used for the purpose of business or rendering of services
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