Locker purchased for office strong room for ₹57000/-. Is this to be capitalized
Prakash MUTGI (1 Points)
02 February 2021Locker purchased for office strong room for ₹57000/-. Is this to be capitalized
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(4778 Points)
Replied 02 February 2021
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.
CA Rashmi Gandhi
(Chartered Accountant)
(86318 Points)
Replied 02 February 2021
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India