Treatment of Equipment Purchased.
This query is : Resolved
CA Gaurav Bagdiya
(Querist)
24 December 2010
One of Assessee had purchased some Fans Costing Rs 3700/- and Treated it as Equipment Purchased for the year( i e Indirect Expenses ). My Point is Whether Company law has any provision regarding this treatment ? Whether it is Right ?.
Hitender Gaur
(Expert)
25 December 2010
It is your expenses, you can treat it as expense of capitalize as assests, it depend on the nature of your business and use of items.
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