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Answer Posted / abhivirthi tax and industrial
Purchases of Land and Building is called Immovable Asset,
and purchase of Machinery etc., which were immovable
properties is called Capital Assets, and purchases of Air
Conditioner, Two wheeler, Three Wheeler, Four Wheeler,
Furnitures and Fittings, Generator, Refrigerator were called
Fixed Assets and payment of money towards Telephone Deposit,
E.B.Deposit and Sales Tax Security Deposits were called
Deposit Assets.
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014.
Cell: 9994990599
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