dear fiends
is discount recd on purchase on vehicle/ car is shown as income in profit & loss A/c.
K B K
(CA final, CWA Final)
(53 Points)
Replied 28 July 2009
No.Vehicle should be capitalised net of Discounts. Hence the discount is to be ignored.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
