Fixed assets for charging depraciation

This query is : Resolved

badal kansal (Querist)
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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)
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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)
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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...

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