Classification of Head
This query is : Resolved
Shashi Kumar C.G.
(Querist)
18 April 2009
If we purchase bed, bedsheets, pillow, towels etc for a service apartment worth Rs.40000/-. My query is whether we should treat this as revenue exp. or capital exp. and why? Under which head?
18 April 2009
Bed may be capitalised as a Fixed Asset under the head of Furniture and Fixtures while all other items may be w/off as revenue expenditure as all are consumable in nature.
CA Nitin Wadhwani
(Expert)
18 April 2009
I agree with Mr.Ramesh
21 April 2009
agree
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