Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2010
Respected Sir,
What is the rate of Depreciation for Mobile Phone.Whether the purchase of Moble is necessary to Capitilised or to be debited to Profit and Loss.
Kindly advice for the same.
Regards
C. R. Mhalgi
Respected Sir,
What is the rate of Depreciation for Mobile Phone.Whether the purchase of Moble is necessary to Capitilised or to be debited to Profit and Loss.
Kindly advice for the same.
Regards
C. R. Mhalgi
29 July 2010
MOBILE PHONES COMES UNDER BLOCK OFFICE EQUIPMENT , DEPRECATION RATE AS PER INCOME TAX ACT WILL BE 15%.
PURCHASE OF MOBILE PHONE CAN ALSO BE CLAIMED AS REVENUE EXPENDITURE INPLACE OF CAPLITZED.
PURCHASE OF MOBILE PHONE CAN ALSO BE CLAIMED AS REVENUE EXPENDITURE INPLACE OF CAPLITZED.
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