An private educational trust purchased a land and started constructing a school ... .Purchase of material shld be added to construction of building or shld be debited to income and expenditure .
Menu
Land purchased and construction on it
Replies (2)
Material should be added to Construction of building
materials used for construction of the building should be capitalized in the books of account and not debited to income and expenditure account
Recent Threads
- Exemptions under New Tax Regime
- ITR-2 Payment Made but Status Not Updated
- Need help for ITR filing
- ITR Updated returns. Time limit for filing
- ITR 2 Processed and Refund Credited to Bank
- Freelancer or Salaried
- LTCG Tax and Indexation on Debt Mutual Funds Sold
- Section 45(5A) and 194IC with carry forward of tds
- Paid tax amount, CIN generated and challan downloa
- INTRADAY INCOME PRESUMPTIVE INCOME
CAclubindia
