4 Replies
HARDIK THAKKAR
(FINAL CA STUDENT)
(132 Points)
Replied 14 November 2013
IT WILL INCLUDE PURCHASE OF NEW ASSET ALSO
Prashanth S K
(Practice)
(148 Points)
Replied 14 November 2013
Dear Pratik,
Additions made to assets means whatever assets you have purchased during the year under consideration. No matter whether such purchases relate to existing assets or new assets. You must be in a position to give a list of such additions made and their corresponding bills.
CA Hitesh V. Sharma
(Partner at MNNY & Associates)
(29 Points)
Replied 15 November 2013
Dear Pratik,
The addition to the fixed asset will be those additions which are made in the year under Scrutiny. Say for Example, a scrutiny notice is received for Assessment Year 2011-12 then the additions pertaining only to AY 2011-12 will be have to be submitted.
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