Purchase of Land - Investment or Fixed Asset

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..... Purchase of Land - Investment or Fixed Asset
Query (Issue) Started By: - Bijay Shrestha Dated:- 25-11-2016 Last Reply Date:- 26-11-2016 Accounting - Auditing
Got 3 Replies
Companies Law
F .....

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..... or Knowledge purpose: A company or Businessman purchased Land. Whether it can be shown as Fixed Assets or Investment ?? Please suggest. Also From Income tax point of view, please suggest tax imp .....

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..... lication as far as classification as above is concerned. Reply By MARIAPPAN GOVINDARAJAN: The Reply: It is to be ascertain the purpose for which the land is purchased. Reply By Ganeshan Kalyani: Th .....

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..... e Reply: Whether the company is buying land for setting up of plant or for some other purpose ? Reply By Bijay Shrestha: The Reply: I give 3 situations - LAND: Situation-1: Land is used for Plant .....

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..... Development for Business. Situation-2: Land was used for agriculture for addition income or given on rent which is different from main business. Situation-3: Land used for nothing but just for Value .....

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..... appreciation in future. Likewise for example BUILDING: Situation-1: Building used for office work or for employees residential purpose. Situation-2: Building given on rent for additional income S .....

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..... ituation-3: Building used for nothing just for value appreciation in future if any.
Discussion Forum - Knowledge Sharing .....

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