Accounting treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 January 2013
my company purchased 3 room heater of 4355 each..kindly let me know the accounting treatment..
CA Priyank Singhi
(Expert)
08 January 2013
You can either treat it as an expense and charge it to PL directly or treat is a Fixed Asset and claim 100% depreciation on the same as your Fixed Assets are less than Rs. 5000/- individually. In either case your tax liability would be the same.
CA Lokesh Pokharna
(Expert)
08 January 2013
these should be charged in P &l
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