FIXED ASSET

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..... WE HAVE PURCHASED A PAINTING COSATING RS. 400,000/-. HOW AND IN WHICH CATEGORY OF FIXED ASSETS UNDER THE COMPANIES ACT AND INCOME TAX ACT CAN WE CAPITALIZE THE SAME. - Reply By CHITRA RAGURAM - The R .....

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..... eply = Please provide the nature of your companies business. Also please describe the product purchased. - Reply By SRINIVAS PALAKODETI - The Reply = We are in Insurance business and product purchas .....

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..... ed is a painting. - Reply By CA Rachit Agarwal - The Reply = If it is used in the office, the same could be capitalized to office building. - Reply By CHITRA RAGURAM - The Reply = Paint is purchased .....

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..... for building renovation and hence it has to be debited to BUILDING account both under Companies Act and Income Tax Act. - FIXED ASSET - Query Started By: - SRINIVAS PALAKODETI Dated:- 7-12-2010 Oth .....

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..... er Topics - Got 4 Replies - Indian Laws - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementind .....

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..... ia.com - TMI - TaxTMI - TMITax .....

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