18 February 2016
i have purchased 8 fans for business ,2300 each on same date.how i make the entry in tally??do i have to create different ledgers of fan undre fixed assets or i have to do single ledger e.g dr fan / fixed asstes cr cash 18400
18 February 2016
A consolidated entry will suffice. Since the rate of depreciation is same on all the fans and the fans are being put use simultaneously, one entry for Rs.18,400/- will suffice.The provision of Income Tax Act 1961 regarding "block of assets" is also satisfied.
CAclubindia
