ACTUAL COST

236 views 4 replies

46 Points Joined July 2018

what is the actual cost of the asset(other than buildings) in the business,which was previously used for personal purpose brought into business.

Replies (4)

*****Accountant***** Never insult to a

1448 Points Joined January 2017

why u need it

46 Points Joined July 2018

for CA inter exam..

INCOME TAX OFFICER

1736 Points Joined February 2014

in my opinion, the market value as on the date of bringing the asset into business should be taken as actual cost

46 Points Joined July 2018

but in the study material they have give the purchase price as the ACTUAL COST

Your are not logged in . Please login to post replies

Click here to Login / Register