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Capitalization of tools and equipments

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 September 2017 Hello Sir/madam,
Whether Tools and Equipment's having purchase value of less than 1000 should be capitalized or expense out.
what should be the criteria for capitalizing such asset.
thanks in advance!!!
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RAJA P M

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RAJA P M (Expert)
13 September 2017 Capitalization of Assets is not it values. It's nature transactions only. You can capitalize your tools and equipment at any cost as a valid bill and taxable...
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