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Property purchased as investment is fixed asset

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1359 Points Posted on 12 May 2022
property purchased as investment is fixed asset ??
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On 12 May 2022 at 14:05 Report
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CFO- at NHTF
58280 Points Posted on 12 May 2022
Is it for business purposes?
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On 12 May 2022 at 14:28
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1359 Points Posted on 12 May 2022
Yes business have two properties one is used in business operation and another is for investment purposes
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On 12 May 2022 at 18:07
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CFO- at NHTF
58280 Points Posted on 12 May 2022
If it is for business purposes and meets criteria of PPE as per AS-10 then it is Fixed Asset
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On 12 May 2022 at 18:41
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Profession Business
28207 Points Posted on 15 May 2022
Property purchased for self or personal use?
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On 15 May 2022 at 06:54
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CFO- at NHTF
58280 Points Posted on 15 May 2022
What you mean by investment ?

Is it earning rent or it's just idle ?
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On 15 May 2022 at 06:57
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Profession Business
28207 Points Posted on 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.
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On 15 May 2022 at 10:25
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CFO- at NHTF
58280 Points Posted on 15 May 2022
It will not qualify as fixed asset if it is not used in the business..
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On 15 May 2022 at 10:27


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