Dear All,
I required info about Categorisation of Mobile phones as per Companies Act 1956 & 2013.
Can I Stick towards plant & Machinery and charge Dep @ 13.91 (WDV)
Nextly did I hav to Capitalise Mobile phones although the value is less than Rs.5,000 as per Companies Act 2013
Please let me know your opinons
Yes you have to capitalise amount Rs 5000 as in companies act 2013 there is no concept of 100% depreciation on items less than Rs 5000.
For checking the WDV rates of mobiles you have to refer the chart of Part C of Schedule II of Companies Act 2013.
Triveni Turbine Limited
Bengaluru
CA
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SKAA & Associates
New Delhi
CA Inter
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CAclubindia
