Hi,
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.
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
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
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Goodwin Pumps India Pvt Ltd
Chengalpattu
CA Inter
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Shyam S Gupta and Company
New Delhi
CA Inter
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CCI
Pro
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