Respected ,
I have brought a landline phone rs 800/- is it applicable for depreciation? if it is not applicbale then what is the price limit for aplicable ?
Thanks & Regards
Mayur
mayur
(M.Com)
(21 Points)
Replied 04 July 2014
Respected ,
I have brought a landline phone rs 800/- is it applicable for depreciation? if it is not applicbale then what is the price limit for aplicable ?
Thanks & Regards
Mayur
Kartikey Jain
(Intern)
(2377 Points)
Replied 04 July 2018
| Originally posted by : mayur | ||
 |
Respected , I have brought a landline phone rs 800/- is it applicable for depreciation? if it is not applicbale then what is the price limit for aplicable ? Thanks & Regards Mayur |
 |
See, this more or less will depend on the policy followed by the management. You can opt for any of the two options. You can write it off as a revenue expenditure since the amount is really insignificant. Else you can also opt for depreciation on the rates discussed above.
KOUSHAL JAIN
(Chartered Accountant)
(471 Points)
Replied 04 July 2018
| Originally posted by : Harpreet | ||
|
As per Comapny Act SLM - 4.75% WDV-13.91/- As per Income Tax Act 15% on P & M |
|
shahyar husain
(1235 Points)
Replied 13 November 2020
Prachi Bansal
(3124 Points)
Replied 06 January 2021
As per my knowledge the depreciation rate on mobile phones is 15%
Hope this answers your question!
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