Depreciation
This query is : Resolved
Pritika Bharti
(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?
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?
Rupesh Jain
(Expert)
19 June 2013
no company can not do any thing for violance of company act.
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?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Gift to nri relatives residing in usa
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
