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INVESTMENT OR FIXED ASSESTS

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(Querist)
18 July 2020 I have purchased a car worth Rs.700999 on 19.10.2019. Is it investment (since it is within a year) or fixed asseste? If investment, will the amount deductable from capital fund through drawing?
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Gokul Sharma

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Gokul Sharma (Expert)
18 July 2020 CAR IS CAPITALISED UNDER FIXED ASSET.
NOT DEDUCTED FROM CAPITAL

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