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Depreciation

This query is : Resolved 
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(Querist)
19 June 2013 As per Note 8 to Schedule XIV,items costing less than Rs 5000 can be fully depreciated in the year of purchase.
My query is- If a company writes off fully all items costing Rs 15,000 as per its Company policy,will that be a correct practice?
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Rupesh Jain

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Rupesh Jain (Expert)
19 June 2013 no company can not do any thing for violance of company act.
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Pritika Bharti

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Pritika Bharti (Querist)
19 June 2013 you mean that the Rs 5,000 limit is final and it cannot be exceeded under any any circumstance?
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