Which head should be debited?

416 views
User Avatar

Assistant manager
430 Points Posted on 15 May 2014

Dear all

Please tell me , If Company have made an expenditure amounting Rs.11,000 for software development for recording of any data but against which I have not found any invoice due to negligence of account deptt.

So my question is where I Should present it. Wheather in Revenue or Capitalise the same?

Regards

Pradeep Kumar

 

 

0 Reply Share Follow
On 15 May 2014 at 19:11 Report
Replies (2)
User Avatar

student
28 Points Posted on 16 May 2014

If the benefit was enjoyed by company for more than one year then you should capitalise otherwise charge it off to P&L.

1 Reply
On 16 May 2014 at 07:06
User Avatar

JOB
901 Points Posted on 19 May 2014

Correct... 

Reply
On 19 May 2014 at 16:58

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Short Deduction
  2. Large mismatch between AIS Business Receipts and G
  3. Income tax on Australian Stipendiary Steward on 3
  4. INCOME TAX SECTION 92E
  5. Queries on Tax Invoice and GST
  6. Income Tax Auditor Tenure for Small Companies
  7. Sec 8 company sec 12ab reg
  8. AIS Password: How to Open Your AIS PDF?
  9. Interview Questions
  10. ITR Filing Last Date 2026

More recent discussions | Post

Related Topics :

Loading
Follow