Asset show in books

one of a service income I.t return individual status filed assess purchases of residential house value Rs:35 lacs.assess this value debited to capital account or asset show in under fixed assets head is correct method.
Replies (2)
Quick Summary
This discussion explores the correct accounting treatment for a residential house purchase valued at Rs 35 lacs. The core question is whether this expense should be debited to the capital account or correctly classified under fixed assets. The consensus suggests showing the house at its stated value within the fixed assets section is the appropriate method.

It will be shown under fixed assets
Show the house at above stated value in Fixed Assets

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details