Any asset costing for less than 5000 should be depriciated @ 100%. So, is it must to first capitalize and then provide dep or can the purchase amt be directed charged to P & L A/c? Will this rule apply both for Income tax & Companies Act or what?
Please cite the relevant provisions
Menu
Depreciation as per IT ACT for Asset less than 5000 Rupees
Replies (1)
Write off charge to profit and loss acount
Recent Topics :
- Is it legally permissible not to report F&O lo
- Query on FCTRS
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
Related Topics :
CAclubindia
