Plant and machine
This query is : Resolved
shriyeshjain
(Querist)
01 July 2012
Sir,
If a company purchase a machine of RS.10lacs and after some months company do negotiation and pay only 9.5lacs.But machine is recorded at 10lacs. But what will be the adjustment of 0.5lacs Is it a discount then where it will shown?
Thanku.
If a company purchase a machine of RS.10lacs and after some months company do negotiation and pay only 9.5lacs.But machine is recorded at 10lacs. But what will be the adjustment of 0.5lacs Is it a discount then where it will shown?
Thanku.
BHARATH KOTHARI
(Expert)
01 July 2012
Hey Shriyesh
in case of Fixed Asset if we receive any discount it is always advisable to reduce from the cost price of fixed asset
becuz that is not an income which we receive regulary
in case of Fixed Asset if we receive any discount it is always advisable to reduce from the cost price of fixed asset
becuz that is not an income which we receive regulary
shriyeshjain
(Querist)
01 July 2012
Can we treat it as a miscellaneous Income?
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