Pur. of jewellery is a investments or fixed assets

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2015 Sir, I want to Know whether purchase of Jewelry or Ornaments by a Director of a Company from his personal a/c. is Investments or Fixed Assets for the Director in his personal A/c?. What is the treatment of the same?. Pls. reply as it is very urgent.

Vinayak

Vinayak (Expert)
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06 February 2015 If its bought for resale with a motive to earn income, then its a investment. But if its bought for personal use, then its fixed asset.

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