Legal charges
CA Rajesh Keshri (CA) (175 Points)
21 June 2011
Does stamp duty payments or franking charges should be treated as legal charges for accounting entry?
CA Rajesh Keshri (CA) (175 Points)
21 June 2011
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 22 June 2011
stamp duty for purchase of asset would be capitalized
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 22 June 2011
othervise revenue under the head legal charges
Rajnikant Vadigoppula
(CA, CS And CMA Final)
(919 Points)
Replied 22 June 2011
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
Priyanka Bhatnagar
(Accounts & Finance)
(44 Points)
Replied 23 June 2011
Franking charges to be capitalised with the cost of asset or to be charged to P& L
Anoopa H P
(Member of ICAI CS Executive)
(192 Points)
Replied 23 June 2011
| Originally posted by : Rajnikant Vadigoppula | ||
 |
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 |
 |
I Agree
Vishal (A/c)
(Accountant)
(67 Points)
Replied 31 January 2019
It attract TDS for Legal charges or not
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