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Capitalisation

This query is : Resolved 
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(Querist)
07 March 2012 The co. has purchased Charger and Battery named as VCB Charger for electric Panel.

Can we capitalise the same
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CA Ghanshyam Joshi

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CA Ghanshyam Joshi (Expert)
07 March 2012 Depend upon the expcted life of the VCB Charger you can take a decision to capatilize it or to book as revenue expenditure irrespective of its cost, if the cost is not really very low.
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Mihir Doshi

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Mihir Doshi (Expert)
07 March 2012 Agree with expert.
Kind suggestion: if the value is below 5,000/- charge it off, otherwise capitalise depend upon its useful life and rate specified in schedule XIV to the Companies Act, 1956.

Thanks
Mihir Doshi
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