Hai All,
Any one can suggest me accounting treatment of Mobile phone purchase amounting Rs 1100. Is it Fixed asset or normal expense. Please suggest.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 22 June 2017
It depends on your company policy. Moreover it can be treated as fixed Assets...
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3303 Points)
Replied 22 June 2017
Depreciation rate 15% is applicable under Income Tax. Record as "MOBILE HANDSET" under Fixed Asset.
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