Rate of depreciation

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gopiagarwal

gopiagarwal (Querist)
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14 August 2013 UPS PURCHASED FOR RS. 1600
HOW MUCH DEPRECIATION TO BE CHARGED AS PER IT ACT AND COMPANIES ACT.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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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

Ganeshbabu K

Ganeshbabu K (Expert)
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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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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15 August 2013 As per companies act it should be written off fully as it is below Rs 5,000.

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