Furnitures & fixtures used in employees quarters
This query is : Resolved
15 February 2013
Sir,
Kindly tell me the accounting of Furnitures & Fixtures to be used in Employees' Quarters & Company Guest Houses. Should they be capitalized or immediately written off?
Kindly tell me the accounting of Furnitures & Fixtures to be used in Employees' Quarters & Company Guest Houses. Should they be capitalized or immediately written off?
15 February 2013
It should be capitalized "Provided that where the aggregate actual cost of individual items of plant and machinery costing Rs. 5,000 less constitutes more than 10 per cent of the total actual cost of plant and machinery, rates of depreciation applicable to such items shall be the rates as specified in Item II of the schedule."
15 February 2013
Please let me know in case of any doubt or concerns
15 February 2013
Sir,
my question is in relation to furnitures & fixtures and not plant & machinery. kindly restate your answer.
my question is in relation to furnitures & fixtures and not plant & machinery. kindly restate your answer.
15 February 2013
Yes . You must capitalize the assets
15 February 2013
Agree with expert.. It should be capitalized.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- TDS Challan Code
- SALE BILL AGAINST GOODS RETURN
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
