Deepa (Analyst) (37 Points)
13 July 2012Hi,
We have acr scheme in our company where employees are allowed to buy cars. We have acse where an employee is exchaging acr for a new one. How to value the car being purchased? THe issue being that the original car is not in our company books. It is right to apply AS 10 and value at NBV of car exchanged plus paoyout by our company? Please let me know correct valuation method.
Vikas Aggarwal
(CA )
(207 Points)
Replied 13 July 2012
apply AS 10 is not worhwhile ,because this is not our fixed assets to be used in our business but only for giving incentives to employess,also we cannot claim depreciation on that
CAclubindia
