banner_ad

Capitalisation of Fixed Assets

This query is : Resolved 
Profile Image

Profile Image

(Querist)
15 July 2010 Is there any provision in Co. Act that if value of fixed assets (suppose P&M) purchased during the year exceeds 10% of WDV then it is to be capitalised ? Or does AS-10 contains any clause regarding it ?
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
15 July 2010 Never heard of such rule. No such rule.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
15 July 2010 There is a proviso to note no.8 of schedule XIV of the Companies Act,1956 which reads as follows.
'provided that where aggregate actual cost of individual items of plant and machinery costing Rs. 5,000/- or less constitutes more than 10 % of the total actual cost of plant and machinery, rates of depreciation applicable to such items shall be the rates specified in item 11 of this schedule'.
Profile Image

Rasesh

Profile Image

Rasesh (Expert)
15 July 2010 Agree with Warrier Sir.
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
15 July 2010 Correction of earlier statement

Nothing apart from that is there.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details