17 June 2013
If a company purchases a book of Rs.4000 and it has non professional business then whether it is a capital expenditure? If so , then what will be depreciation rate on it as per I.t?
17 June 2013
It depends whether you want to treat it as capital expenditure or not. If it is of continuing use and amount is also material, capitalise it and depreciate @ 60% in ITax.
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