27 June 2019
Please suggest for the below mentioned query. Plants worth Rs 3-4 Lac purchased for premises for decoration purpose only. In Fixed Assets whether these will be shown under Furniture and fixture/any other head. Depreciation applicability? Please answer.
This expense can not be capitalised as there are no future economic benefits from plants purchased for decoration purpose. Hence this expense should be debited to profit and loss account directly.
CAclubindia
