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Property purchased as investment is fixed asset
property purchased as investment is fixed asset ??
Replies (7)
Is it for business purposes?
Yes business have two properties one is used in business operation and another is for investment purposes
If it is for business purposes and meets criteria of PPE as per AS-10 then it is Fixed Asset
Property purchased for self or personal use?
What you mean by investment ?
Is it earning rent or it's just idle ?
Is it earning rent or it's just idle ?
,property can be used for residential purposes and can also be used let out for rent. Both are investments. In case it is used for residential purposes a seperate treatment.
It will not qualify as fixed asset if it is not used in the business..
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