16 August 2013
The amount AFTER discount will be capitalised in the books and the same amount shall be used for calculating depreciation as per Income Tax Act.
Guest
Guest
(Querist)
16 August 2013
Gross Block as per books is existing and it is subsequent credit given by seller that is deducted from Assets in Books of Accounts..
Now should i also deducted it from Block for Income Tax purpose.