Urgent accounting for fixed assets
This query is : Resolved
03 October 2013
Hey Friends,
I want to know whether Gas Cylinder purchased by a businessmen having Resort business can show as Capital Assets or Revenue Expenses both as per I.T Act & AS
I want to know whether Gas Cylinder purchased by a businessmen having Resort business can show as Capital Assets or Revenue Expenses both as per I.T Act & AS
04 October 2013
It is revenue expenditure...no meaning in capitalization of cylinders
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