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Accounting treatment on furniture taken on rental basis

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2018 Dear Sir

our office is in a rented primises and we have taken furniture and fixture on rental basis. the rental we are paying is approx 3 lac per quater. I am in the option of treating the furniture as fixed assets and calculation depreaction based on the lease period of the office . am i right in doing so . or do i have to expenses the same.
your opnion will be appreciated
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
03 August 2018 Rental furniture is not FA, you can straight away book as rent and deduct TDS as applicable.
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