Capital assets
This query is : Resolved
Brijesh Khandelwal
(Querist)
15 June 2015
Can we treated some computer accessories under rs. 5000/- as capital assets ??
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.
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.
Rupesh Jain
(Expert)
15 June 2015
you can capitalzed if cost of product life in more one year.
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.
In the entire income tx act no such reason is stated or can be interpreted.
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