Introduction As per Ind AS 16, cost of Property, Plant and Equipment (PPE) comprises of the following ▪ Purchase price: Purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates ▪ Directly attributable costs: Any costs directly attributable to bringing the asset to the location and condition necessary for it …
Amendments: Ind AS 16- Property, Plant and Equipment Read More »
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Where any assets got transferred to the partner in any previous year on reconstitution or dissolution of the firm, the tax implications are always in question to us. To clarify whether such transfer is taxable in the hands of the firm or the partner, this article discusses the recent guidelines and clarifications issued by CBDT …
