Section 88: Valuation of Fixed Assets

The Karnataka Municipalities Accounting and Budgeting Rules, 2006.State Rules of Karnataka · 1964

(1) Fixed assets shall be recorded at historical cost including directly attributable expenses such as freight, insurance etc. for bringing the asset to its working condition.

(2) In case a fixed asset is acquired at a concessional rate, it shall be recorded at the acquisition cost incurred;

(3) In case a fixed asset is acquired free of cost, it shall be recorded at a nominal value of Rupee One.

Where this provision sits

Act	The Karnataka Municipalities Accounting and Budgeting Rules, 2006.
Section	88
Marginal note	Valuation of Fixed Assets
Jurisdiction	State of Karnataka
Status	In force as published by the source

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