Doubts in grant asset accounting

Anil kumar D.V (CHARTERED ACCOUNTANT) (267 Points)

08 June 2012  

Dear Friend/Sir

If one EQUIPMENT COST 15 LACS, GRANT RECEIVED from university  10LACS to purchase asset AND Management contribution 5 lacs  ,

What is accounting treatment for 5 lacs given by management????,

can we claim depreciation for 5 lacs , 

Note: grant received by education institution and received from VTU/UNIVERSITY