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Capital assets

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(Querist)
15 June 2015 Can we treated some computer accessories under rs. 5000/- as capital assets ??
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Ankur Singhal

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Ankur Singhal (Expert)
15 June 2015 amount does not matter under income tax act to treat one item as capital asset or not.
One need to take care whether such an accessory increase the efficiency of the asset beyond the original installed efficiency.

If the answer of above is positive then it is a capital asset.
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Rupesh Jain

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Rupesh Jain (Expert)
15 June 2015 you can capitalzed if cost of product life in more one year.
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Ankur Singhal

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Ankur Singhal (Expert)
16 June 2015 Mr. Rupesh Jain your answer lack concept.
In the entire income tx act no such reason is stated or can be interpreted.
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