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TMI BlogDebit note regarding to capitalised assets.X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Expert, please suggest regarding to debit note raised by us which is related with fixed assets (capitalised/depriciated) and I want to know best accounting treatment regarding it. Is we can raise debit note related to capitalised/ depriciated value or not ? please reply as soon. Regard Vikram Singh - Reply By Pradeep Khatri - The Reply = Dear Vikram, We are not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble to understand your query. Please elaborate it, enabling us to revert. Regards YAGAY and SUN (Consultants - Business, Management and Indirect Taxation) - Reply By vikram singh - The Reply = Sir, I mean to say that we had purchase a Machinery and capitalize it. after one month we had been charged depreciation on it. but now we have require to raise debit note for related party than ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in this case we debit the party and credit the plant and machinery (wip), but we have been capitalize it. Now what head we will be credit however we have been capitalize it. we can't credit the plant and Machinery (wip) after capitalization and I think Plant and Machinery also we have been charge depreciation on this machine.. (please reply...) Regard- Vikram Singh - Debit note regarding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to capitalised assets. - Query Started By: - vikram singh Dated:- 22-12-2014 Accounting - Auditing - Got 2 Replies - Companies Law - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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