Menu
capital wip
advance payment made to developer for software development, is capitalised as a fixed asset? is it a proper accounting or should it be taken in capital wip until the charge of asset in hand or use.
Replies (1)
Any fixed assets are capitalisation from the date of installation. You should have transfer the amount to Capital WIP. Please note that other expenses (up to installation) are also capitalised.
>> Rajesh
Recent Topics :
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
Related Topics :
CAclubindia
