fixed asset
This query is : Resolved
27 March 2009
Hi experts,
if i purchase 10 tables each worth Rs.4000/-, should i write it of in the same year as below 5000 or as a block of assets should the depreciation be charged on used period.
if i purchase 10 tables each worth Rs.4000/-, should i write it of in the same year as below 5000 or as a block of assets should the depreciation be charged on used period.
CA. B.SRINIVASULU
(Expert)
27 March 2009
Since the item purchased is tables which will have usage for the more than 3 years and amount involved is 50000 the asset should be capitalised and depreciation has to be charged.
Message likes :
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CA Nitin Wadhwani
(Expert)
27 March 2009
Capitalized under furniture and fixtures.
HUZAIFA HUSSAIN
(Expert)
27 March 2009
IT IS TO BE CAPITALISED .
Manmohan ACA, CS
(Expert)
28 March 2009
capitalise it
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