Can i book as asset in Partnership firm when purchased in the name of partner
This query is : Resolved
12 April 2022
Actually electrical scooter purchased for the purpose of business only but the bill is in the name of partner and paid through the firm's account only.
As it is a electrical vehicle there is no required to register with RTA only have invoice.
my question is can i book as an asset in firm's books of accounts or not?
please help me and thanks in advance
As it is a electrical vehicle there is no required to register with RTA only have invoice.
my question is can i book as an asset in firm's books of accounts or not?
please help me and thanks in advance
CA R SEETHARAMAN
(Expert)
12 April 2022
Yes, it can be booked in form's account.
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