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Curtain n fabrics accounting treatment

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2016 should the curtain n fabrics be shown as Furniture n fixtures???
accordingly can we claim depreciation on that as well as per IT Act.??

or else it should be written off as revenue exps. in current year.
(Rs. 50,000) expected life 3 to 4 years.
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Rupesh Jain

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Rupesh Jain (Expert)
27 June 2016 it should be exp. off , there is no life base depreciation under the income tax act.
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Amol S Joglekar

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Amol S Joglekar (Expert)
27 June 2016 yes,it may be capitalised and grouped under fixtures and fittings
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