Property purchased as investment is fixed asset
Atharv Sankliya (1359 Points)
12 May 2022
property purchased as investment is fixed asset ??
7 Replies
Atharv Sankliya
(1359 Points)
Replied 12 May 2022
Yes business have two properties one is used in business operation and another is for investment purposes
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 12 May 2022
If it is for business purposes and meets criteria of PPE as per AS-10 then it is Fixed Asset
sabyasachi mukherjee
(27864 Points)
Replied 15 May 2022
Property purchased for self or personal use?
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 15 May 2022
What you mean by investment ?
Is it earning rent or it's just idle ?
Is it earning rent or it's just idle ?
sabyasachi mukherjee
(27864 Points)
Replied 15 May 2022
,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.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 15 May 2022
It will not qualify as fixed asset if it is not used in the business..
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