banner_ad

Purchase of fixed asset

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 August 2020 a partnership firm one of a partner purchase of fixed asset rs.10 lacs value payments through on partner personal bank account.if invoices billing partner name.fixed assest used for partnership firm purpose.
Question:
Purchase of fixed assest above transaction treatment in firm and partner personal books and accepted under I.t. act.
Profile Image

CA Raj Doshi

Profile Image

CA Raj Doshi (Expert)
04 August 2020 Book asset in partnership firm Dr.Machinery Cr. Creditor Dr. Vendor Cr. Partner Capital
Profile Image

Aashok Kumar Sharma online

Profile Image

Aashok Kumar Sharma online (Expert)
09 August 2020 Invoice raised in Partner Personal name and being used in business will create problem. Invoice needs to be raised to Business name and Address with all accompanying details like PAN, GST, CIN, Registered address etc to claim Input Tax Credit or Depreciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details