Company have a Car which purchase price in our books is 787000.00 and books price was 750000.00 and this car was accident. After that company sells it to a individual person and received a sum of rs 500000.00. After that Insurance company gives us a claim amount in tune of rupees 680000.00 So please let me know we should book this claim amount in under the ledger of profit on sale of fixed assets or need to book under other Income head.
Thanks
CAclubindia
