If a capital asset is purchased from local dealer where in the bill the grant is provided,is it better to show as Reserve and amortise everyyear based on depreciation method and credit to p&l a/c or reduce from Fixed asset of such amount?for AS12,INDAS,ICDS
Menu
Government incentive
Replies (2)
Reduce from Fixed Asset.
It must be reduced from Asset value, since the incentive is for that asset and not related to Income
Recent Topics :
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
Related Topics :
CAclubindia
