hi all,
pls let me know if a company purchases security alarm system or a fire alarm system, which head under fixed assets it is appropriate to be classified for depreciation under Schedule XIV? Is Plant & Machinery correct?? Or is it Office Equipments?
I think it will fall under the head Plant and Machinery.
Hai...
It is to be catogorised as office equipment. but it will not make any difference as office equipment is a part or sub catogery of plant and machinery.
But practically plant and machinery always represent the production or manufacturing equipment.
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