Depreciation on Books
This query is : Open
11 October 2016
Can we consider Books and periodicals as an fixed assets in case if an individual is an ADVOCATE? Please suggest me, sir
12 October 2016
Books and periodicals are generally not considered as fixed assets and further any asset whose individual value is less than Rs.5000 is written off in the same year. Thus books and periodicals are required to be written off in the same year.
12 October 2016
Thank you Madam for your response
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