Rate of depreciation
This query is : Resolved
gopiagarwal
(Querist)
14 August 2013
UPS PURCHASED FOR RS. 1600
HOW MUCH DEPRECIATION TO BE CHARGED AS PER IT ACT AND COMPANIES ACT.
HOW MUCH DEPRECIATION TO BE CHARGED AS PER IT ACT AND COMPANIES ACT.
CA UMESH DULAL
(Expert)
14 August 2013
as per IT act- 15%
as per companies act- you can write off entire amount as the amount is less than 5000
as per companies act- you can write off entire amount as the amount is less than 5000
Ganeshbabu K
(Expert)
14 August 2013
Better charge this expenditure as revenue expenditure Repairs & Maintanance -Electrical A/C
It will be better and you may not get any objection from your auditor also
other wise you need to go as suggested by above expert..but i recommend to expense the ups purchase
It will be better and you may not get any objection from your auditor also
other wise you need to go as suggested by above expert..but i recommend to expense the ups purchase
15 August 2013
As per companies act it should be written off fully as it is below Rs 5,000.
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