partnership firm- jewellery shop (audit firm)
firm purchase new vehicle & amount details as below
2297203/- innova vehicle
293608/- cgst
293608/- sgst
314531/- cess
111849/- insurance
400018/- RTO
45246/- process fee
3556113/- total
two partners
vehicle purchase in the name as one of them (he also maintain his individual boks of account ) but full payment made by firm
1) guide how to maintain exact value entry in the books of account as capital assets
2) about depreciation
3) TCS collected - can claim individual partner
CAclubindia
