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Legal charges
Does stamp duty payments or franking charges should be treated as legal charges for accounting entry?
Replies (8)
stamp duty for purchase of asset would be capitalized
othervise revenue under the head legal charges
yes stamp duty is a legal charge.
if it is incurred for purchase of asset then it is to be added to cost of asset otherwise it should be transferred to profit and loss a/c
rajni kant is right
rajni kanth is right
Franking charges to be capitalised with the cost of asset or to be charged to P& L
| Originally posted by : Rajnikant Vadigoppula | ||
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yes stamp duty is a legal charge. if it is incurred for purchase of asset then it is to be added to cost of asset otherwise it should be transferred to profit and loss a/c |
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I Agree
It attract TDS for Legal charges or not
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