Curtain n fabrics accounting treatment
This query is : Resolved
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Querist : Anonymous
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.
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.
Rupesh Jain
(Expert)
27 June 2016
it should be exp. off , there is no life base depreciation under the income tax act.
Message likes :
1 times
Amol S Joglekar
(Expert)
27 June 2016
yes,it may be capitalised and grouped under fixtures and fittings
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