Toshar Ahuja (Chartered Accountant) (107 Points)
06 August 2013Asset in the name of Directors, shown in Company Balance Sheet (Depreciation Claimed in earlier years).
Can the aseet it to be reversed to the directors by book entries?????
What is the tax implications????
Gowtham
(Student CA IPC / IPCC)
(119 Points)
Replied 06 August 2013
director purchased for the company the seller mention director name instead of company no prbs account in company and claim depreciation if the asset used for the company
Toshar Ahuja
(Chartered Accountant)
(107 Points)
Replied 06 August 2013
| Originally posted by : Gowtham | ||
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director purchased for the company the seller mention director name instead of company no prbs account in company and claim depreciation if the asset used for the company |
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thanks for the reply.....but sir my question is the company reverse the book entries & transfer the asset to directors or not????
CAclubindia
