AS 10
This query is : Resolved
13 February 2010
Can any one please help me to solve this?
The company has constructed a boiler for use in its factory. A substantial portion of the overheads has been charged to the cost of the boiler. thus the cost of the self constructed boiler is almost double the market price of a similar boiler. comment.
The company has constructed a boiler for use in its factory. A substantial portion of the overheads has been charged to the cost of the boiler. thus the cost of the self constructed boiler is almost double the market price of a similar boiler. comment.
13 February 2010
If you are asking for Income tax points of view, then I suggest whate ever is extra overhead cost allow is as revenue expenses. For accounting purpose as per AS 10 it does't make any sense.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Form 26QB for TDS on property
- Is Aadhar PAN linking required for opening bank account?
- TDS NUMBER SURRENDER
- Whether still royalty
- BLOCKED-INELIGIBLE GST CREDIT
- Amendment of September 2021 Invoice
- Payable outstanding for years disallowance
- Strategic Performance Management and Business Valuation
- Appeals vs Writ court -certain doubt
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
