Depreciation on glass
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2012
Company is purchasing glasses and sending it for making furniture for new office can the expense made to purchase glass be capitalized and depreciation be claimed? Please state any provisions of income tax is affected?
03 March 2012
yes since it will become part of the furniture, depreciation can be claimed as furniture & fixture including the expenditure incurred for the purchase of the glass. provisions regarding cost of acquisition & depreciation will be affected.
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