Fixed assets
This query is : Resolved
VARUN GUPTA
(Querist)
03 December 2012
What is the treatement of Fixed assests of less than 5000 in partnership firm???
Aditya Maheshwari
(Expert)
03 December 2012
Partnership firms generally use Income Tax depreciation rates for charging depreciation and hence normal depreciation procedure to follow and not to write off assets below Rs. 5,000/- like in companies act
VARUN GUPTA
(Querist)
03 December 2012
thanks.... :-)
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