Depreciation on Low value item
This query is : Resolved
CA Mukesh Mishra
(Querist)
28 March 2010
Dear all,
i want to know that if any company have purchased any fixed assets costing Less than Rs.5000 whether this can be written off fully in same year or the prevailing depreciation rate will be applicable?
Thanks to all in advance.
i want to know that if any company have purchased any fixed assets costing Less than Rs.5000 whether this can be written off fully in same year or the prevailing depreciation rate will be applicable?
Thanks to all in advance.
CA Kapil B Gupta
(Expert)
28 March 2010
100% write off in the same financial year.
CMA Ramesh Krishnan
(Expert)
28 March 2010
agree.you can write off 100%
CA Ravi Sisodia
(Expert)
28 March 2010
Agreed..
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