Depreciation rates as per co.act 2013.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2016
our company purchased mobile phone and tablet for employees.
cost is born by co.
however as per co policies, mobile phone will become the property of the employee after 25 months of issue.
if employee leaves before that period then bal of instalments will be deducted from his salary and employee has no option to return it.
my queries are:
1. whether to treat them as asset and charge depreciation. if yes, then what is the rates of depreciation?
2. whether it is practical to treat it as routine business expenditure?
pls advise.
cost is born by co.
however as per co policies, mobile phone will become the property of the employee after 25 months of issue.
if employee leaves before that period then bal of instalments will be deducted from his salary and employee has no option to return it.
my queries are:
1. whether to treat them as asset and charge depreciation. if yes, then what is the rates of depreciation?
2. whether it is practical to treat it as routine business expenditure?
pls advise.
17 February 2016
Treat it as routine business expenditure as owner ship goes to employees after some time.
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