Allowable expense

Sulabha (Accounts Assistant) (67 Points)

05 August 2016

Mobile Purchased by sole Proprietor can be claimed as a expense

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3 Replies

Shubham Gupta (Business Consultants) (2077 Points)
Replied 05 August 2016

it has to be capitalised and depreciated accordingly.

Sulabha (Accounts Assistant) (67 Points)
Replied 05 August 2016

@ what rate of depreciation

Jayesh Vyankatrao Pawar (Accounting & Taxation) (51 Points)
Replied 05 August 2016

HI,

Depreciation rate on mobile as per below

DEPRECIATION RATE AS PER IT ACT 15%

DEPRECIATION RATE AS PER COMPANY ACT 4.75%

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