Locker purchased for office strong room for ₹57000/-. Is this to be capitalized
Menu
Accounting for locker purchase
Replies (2)
Yes. certainly It comes under capital expenditure. Capital expenditures (CapEx) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment. CapEx is often used to undertake new projects or investments by a company.So lockers also gives income in future to the organisation.
Yes as it is an assets which will be used for longer than 1 year. Hence same is required to be capitalized
Recent Threads
- Unorganised chit amount
- LTCG tax late payment interest
- Post pension deposit in Swiss account
- Max FD super senior citizen can make.
- Capital Gains Tax Bonds
- Timing difference in availment of ITC reporting in
- Import of goods and igst related
- DGFT licence port mismatch with Postal (PAD) impor
- Tax on sale property (Land)
- Recruitment for Jr.Accountant.
Related Threads
CAclubindia
