Account head

Hello everyone,

Do anybody confirm that the IPAD and Printers (multipurpose) capitalized under which head??
a) Computers
b) Office equipments
Please clarify!!

Regards,

Hammad

You should have to capitalized under the head of COMPUTER HARDWARE. Not under computers or office equipments.

Hi

I agree with Hemanth

If you are a Company you have to clasify it as per Revise Schedule VI and above said item will come under COMPUTER HARDWARE.

it depends on ur business and in normal cases it will come under office equipments

Thanks for your views guys...

it is a company related to PHARMA industry...

now give your views accordingly.

Also there is GOD'S Murti situated at the entrance of office building..in which head it covers??

Kindly give ur views as per COMPANIES ACT and as per INCOME TAX ACT related to all 3 assets

I think you should capitalise the IPad & Printers under the head "Computers & Printers"

and in case of God's Murti,it cannot be Asset as its not being used for production of goods or rendering of service.Thus it should be taken as general office expenses and not as an asset.

Thanx for your views Mr. Roshan.

However in my views:- 

There in no head "computes and printers" combind in companies act or income tax act.

Multipurpose Printers are capable to work and bring output with or without computers, hence they should be covered under Office equipments and depreciate @ 13.91% as per companies act.

Tha same will be done for IPADS.

but I want more support for my views or any other views alongwith support.

And for God's Murti:- i am totally agrees with your views. but in any case if we have to capitalise the same as asset, under which head we can capitalize and what the rate of depreciation charge??

Waiting for your valuable inputs everyone!!

Thanx for your knowledge share..

it should go under the head computer 

hello friends 

i give my choice to office equipments 

hello,

it should be capitalised under the office equipement not in computer because computer is a data processing machine where as printer and ipad is the only use for output generation either to connect with computer or without computer, it is not prosess the data independently.

Dinesh Baldua