Asset value less than rs 5000.00

rama/ramesh (service) (55 Points)

10 November 2011  

If value of mobile phone less than 5000.00  purcased one set on 12/08/2011 and another  set on 31/10/2011

and furniture purchaed value  less than Rs 5000.00

are the above fixed asset are eligible for 100% Dep as per Co ACt.

what about under income tax?

sch xiv is applicable only for Plant and machinery or foall asset for value less than Rs 5000.00

 

thanks and with regards

ramesh