What will be the accounting treatment for building demolished by client himself (i.e. not by any natural calamity or by MCD)
6 Replies
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 12 January 2011
Profit and Loss A/c Dr.....
To Building
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 12 January 2011
Manmohan in such a case the value standing in the books to be written off by debit to p&L what would be the situation if demolition is carried out by a contractor In such case AS-7 will be applicable ? if so how would be the treatment given in books of contractor and client
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 12 January 2011
MCD should be Municiple corporation department
CA MAULIK
(C.A)
(937 Points)
Replied 12 January 2011
MCD means MUNICIPALITY CORPORATION OF DELHI..........i think so....i hav heard it...
CA Biswaranjan
(job)
(149 Points)
Replied 12 January 2011
provision for depreciation(if any) .....dr
P/L ..........................................................dr
To building A/c
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