Cc tv purchase & installation kindly help urgent............
This query is : Resolved
Sreejith. M
(Querist)
18 April 2016
Our society installed CC TV system which costs Rs.38000/-
It consists of 2 Cameras @ 3450 = 6900, DVR unit 9735, 2 TB HDD = 7150 connectors-400, cables-1450 Rack -4500 labour, VAT and Service Tax. How to account the same in Tally. I can capitalize above 5000 items and balance as expense. Kindly help ?
Our society installed CC TV system which costs Rs.38000/-
It consists of 2 Cameras @ 3450 = 6900, DVR unit 9735, 2 TB HDD = 7150 connectors-400, cables-1450 Rack -4500 labour, VAT and Service Tax. How to account the same in Tally. I can capitalize above 5000 items and balance as expense. Kindly help ?
CA Mehta Ankur N.
(Expert)
18 April 2016
Capitalise all the items.
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Sreejith. M
(Querist)
18 April 2016
Sir can I capitalize as CC TV system as 1 item or singly as camera,DVR,Hard Disk Drive like that. But there is some items which costs is 400,76 these can take in to expense ? sorry for disturbing.
CA Mehta Ankur N.
(Expert)
18 April 2016
Yes you have to capitalise all the things in C C TV Camera one asset only.
Even cost is Rs. 2.00 of a ball but if that ball used for plan to make in in working condition then that ball also to be capitalised.
But generally if you have shown as revenue expense its on a big expense so no problem.
But still entry is pending do as i suggested.
Not at all get disturbed.. thanks.
Even cost is Rs. 2.00 of a ball but if that ball used for plan to make in in working condition then that ball also to be capitalised.
But generally if you have shown as revenue expense its on a big expense so no problem.
But still entry is pending do as i suggested.
Not at all get disturbed.. thanks.
Message likes :
1 times
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