Fixed assets ????
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
Whether as per AS 10 and Schedule VI(revised), can "Dies" be charged of as a consumable for the reason that its value does not exceed Rs 5ooo/-.
29 May 2012
Schedule VI has never governed Accounting parameters for fixed asset. It has been Schedule XIV.
In any case, you can follow a policy of writing off the assets below a certain threshold ie RS 5,000. Refer notes to Schedule XIV on depreciating assets of smaller value.
In any case, you can follow a policy of writing off the assets below a certain threshold ie RS 5,000. Refer notes to Schedule XIV on depreciating assets of smaller value.
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