Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 June 2011
Can Assets purchase having value of Rs. 5000/- be write off at once under the Tax Audit
DEEP SINGH TOMAR
(Expert)
23 June 2011
yes
Where the actual cost of fixed assets does not exceed Rs.5000, the entire cost is allowed as depreciation in the year in which such plant and machinery is first put to use.
Thanx
Where the actual cost of fixed assets does not exceed Rs.5000, the entire cost is allowed as depreciation in the year in which such plant and machinery is first put to use.
Thanx
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