Fixed assets for charging depraciation

Save Share

This query is : Resolved

badal kansal (Querist)

26 February 2013 hi,,

Anyone can suggest me in the following situation:
Company purchased capital items for office use i.e. Computer, Printer & UPS/Battery.

Invoice 1:

Computer(2 qty.* 25000) 50000
Printer(2 qty.* 16000) 32000
UPS/battery(2 qty.*8000) 16000

In This case, Entire purchase has booked under head Fixed assets- Computer and depreciated charged @40% as per companies act
Invoice 2:

Printer(2 qty.* 16000) 32000
UPS/battery(2 qty.*8000) 16000

In This case, printer purchased has booked under head Fixed assets- Printer and depreciated charged @13.91% as per companies act
and UPS/battery under Fixed assets-Computer and dep. @40%

I need assistance on whether the company can do so...
or is there any contradiction exists with the Indian accounting Provisions.

Thanks

Badal kansal
9873471131
Email Id: badalkansal90@gmail.com

CA Parul Saxena

CA Parul Saxena (Expert)

26 February 2013 No printer also is an integral part of computer hence dep. is to be charged @ rate which is applicable on computer.

badal kansal

badal kansal (Querist)

26 February 2013 Thank you so much Parul for your feed back....

Can you also provide me any case law reference or any written provisions related to this so i able to acknowledge the same......i am waiting for your response...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now