fixed asset
This query is : Resolved
26 July 2008
i have 2assets(computer assesories)1 is value of 4000(purchased on 15march) and other of 1500rs(purchased on 16march).can i write off this asset.?as per which act co's or as per I.Tact
26 July 2008
Plant and Macinery or any computer machine is defined as a machine made of certain components which function in a synchronised manner and the activity of one component depends on the other and the resultant outcome of all these is the desired result. As such any component in itself is not an independent machine and component as such costing less than Rs 5000/- may not be w/off @ 100%. In such a case, it will either be treated as Repair if replaced or addition,if added to the machine for the first time to get an extra feaure and benefit. In nutshell the accessories are initially to be analysed in view of their independance and utility and only then it can be decided whether it is an independant machine to be w/off @ 100% or not.
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