Menu
Income tax
dear sir
my client has purchased assets before 3 or 5 year, but now it has accounted ay 2013-14. my question is assets is directly credit to individual capital account & also account for balance sheet fixed assets side.
its correct or wrong? pls help this queries
Replies (1)
Dear srikumar,
just depriciate it for three year( incase purchased three ago) and take it in your a/c. For eg. If asset is of 50000 (say machine) then depriciatr @ 15% for three year to come on the actual amount. I hope answer is clear?
Recent Topic
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
- Form 121 eligibility for non deduction of TDS for
- Gold/silver etf. STCG. how to decalre in ITR at s
Related Topics
CAclubindia
