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Capital or revenue receipt

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(Querist)
12 June 2017 P/L on fixed assets is treated as capital Profit or loss then why it is credited in P/L a/c.
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Nikhil Kaushik online

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Nikhil Kaushik online (Expert)
12 June 2017 because in accounts all the profits are to be transferred to P&L regardless of the nature of profit. the p&l is supposed to reflect all the incomes earned during the year irrespective of the nature and source.

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